Nevada Public Employees’ Retirement System, Carson City, hired Banc One to manage $400 million in active domestic core fixed income, said Ken Lambert, assistant investment officer. The $13 billion pension plan funded the move by reducing two Lehman Aggregate index funds, one managed by State Street Research and the other by Payden & Rygel, by $200 million each, leaving each portfolio with $650 million.
The fund’s asset allocation is 35% domestic equity, 35% domestic fixed income, 10% international equity, 10% international fixed income and 10% real estate. Callan Associates advised.
