Village of Streamwood, Ill., is seeking at least one external domestic fixed income managers to run up to a total of $10 million for the village's $20 million police and $13 million firefighter pension plans, said Craig Larsen, investment adviser with consultant Apple Hill. The boards of trustees for each plan have not determined if the assets will be actively or passively managed, Mr. Larsen said. No timeframe has been established for a selection.
The plans' fixed-income assets are managed internally and invested in government agency and treasury bonds. David A. Richardson, village finance director, said the asset allocation for each plan is 60% fixed income, 40% equity.