Oregon Public Employees Retirement Fund, Salem, will allocate its remaining $2.2 billion in internally managed fixed-income assets among the $36.5 billion systems six external bond managers, said Mike Mueller, interim director-investments. Five of the managers will have equal portfolios of $1.9 billion each.
The active portfolios run by Alliance Capital, BlackRock and Fidelity will be increased from roughly $1.3 billion each, and those run by Wellington and Western will be raised from about $1.8 billion each.
Barclays Global Investors $227 million passive portfolio, used only for rebalancing purposes, will be increased to $500 million.
The reallocation will complete the transfer of its $10 billion in fixed-income portfolios to external management in advance of the June 30 retirement of William Unverzagt, senior investment officer and internal bond manager.
Frank Russell assisted.