Alaska Permanent Fund, Juneau, is searching for an active U.S. fixed-income manager and a REIT manager. The $21.5 billion fund terminated Alliance Capital Management as manager of a $375 million domestic bond manager because of performance and staff turnover, said Joan Cahill, spokeswoman. The fund has parked the assets in an internal bond portfolio while it searches for a new manager, which it expects to select in early 2003. Interested managers should contact consultant Callan Associates, which will put together a shortlist.
Separately, the board plans to split AEW’s existing $637 million REIT portfolio to provide greater manager diversification, Ms. Cahill said. A second manager is expected to be hired in mid-November; the size of the allocation has not been determined.
