Los Angeles County Employees Retirement Association, Pasadena, Calif., chose MW Post Advisory Group and Shenkman Capital Management as finalists in its search for a manager to run $300 million in active domestic high-yield bonds, said Juan M. Almaguer, senior investment officer, fixed income.
The board of the $24 billion system will make a selection at its March 26 meeting, Mr. Almaguer said. The system launched the search because of performance problems with incumbent Loomis Sayles, which ran the money in a similar style. Loomis Sayles rebid but was not one of the finalists, he said. Chris Lazzaro, vice president, public relations at Loomis Sayles, said the company had no comment.