Rhode Island Employees Retirement System, Providence, hired MacKay-Shields and Shenkman Capital Management to manage $125 million each in high-yield fixed income, said Bill Bensur, the Wilshire Associates consultant who assisted the $5.8 billion plan. Funding came from terminating Loomis Sayles, which managed $250 million in a combination high-yield/convertible bond portfolio, for performance.
Chris Lazzaro, spokesman for Loomis Sayles, said it is company policy not to comment on client-related matters.
