Nevada Public Employees’ Retirement System, Carson City, named Banc One, Smith Breeden and Western Asset Management as finalists in its search for a manager to run $400 million in active domestic core fixed income, said Laura B. Wallace, chief investment officer. The firms will make presentations to the $13.2 billion system at its July 16 meeting. Funding will come from reducing two Lehman Aggregate index funds managed by State Street Research and Payden & Rygel by $200 million each, leaving each portfolio with $650 million.
The system’s asset allocation is 45% equity, 45% fixed income and 10% real estate. Callan Associates is assisting.
