Los Angeles County Employees Retirement Association, Pasadena, Calif., asked its staff to prepare an RFI for a domestic high-yield bond manager. The $26 billion fund is concerned with the performance of existing manager Loomis Sayles, which runs a $300 million high-yield portfolio for the fund, said Juan M. Almaguer, senior investment officer, fixed income. "The last two years, they clearly underperformed, Mr. Almaguer said.
Final approval for the RFI is expected by the end of the summer, he said.
Christopher Lazzaro, vice president-public relations at Loomis Sayles, said the firm does not comment on client-related matters.