Western Conference of Teamsters Pension Trust, Seattle, hired Western Asset Management and BlackRock to handle $500 million each in active domestic core bonds, said Alan Biller, president of Alan D. Biller & Associates, fiduciary and investment adviser for the $29 billion system. The new portfolios will be benchmarked to the Lehman Aggregate Bond index. The money had been parked in other managers' portfolios since the previous core fixed-income manager, PIMCO, was terminated in early 2003, said Steve Center, an associate with Alan D. Biller.
The pension fund's asset allocation is 60% equity, 30% fixed income and 10% real estate.
