Oklahoma Teachers' Retirement System, Oklahoma City, hired MacKay Shields and Lord Abbett to each manage about $240 million in core-plus fixed income, said Bill Puckett, CIO. The $7 billion pension plan also hired active domestic fixed-income managers Stephens Inc. and Hoisington Investment Management to run $100 million each, Mr. Puckett said. Funding will come from rebalancing.
Mr. Puckett said the fund issued RFPs in the second quarter after consultant gregory.w.group conducted an asset allocation study and plan officials decided to further diversify. The fund's asset allocation is 53% domestic equity, 30% fixed income and 17% international equity.