New Orleans Employees Retirement System retained active domestic fixed-income managers Orleans Capital and Deutsche Asset, after conducting an invitation-only search as part of a systematic review, said Jerry Davis, chairman of the board of trustees. The $330 million pension plan rebalanced the portfolios of the two managers, along with that of its other active domestic fixed-income manager, Earnest Partners, allocating $40 million to each of the three. Orleans Capital and DeAM had managed $41 million each; Earnest Partners had managed $36 million.
Separately, DeAM will manage a new $3 million active international fixed income mandate, Mr. Davis said. Funding came from terminating Waddell & Reed, which ran $6.4 million in active international growth equities, and US Trust, which ran $21 million in active international growth equities, he said. The remaining assets were distributed among the plans active domestic equity managers, Mr. Davis said. He would not give further details.