Ohio School Employees Retirement System, Columbus, will search for a core-plus fixed-income manager in the coming weeks, according to money managers familiar with the fund who did not wish to be identified. One manager said officials at the $8.9 billion plan have already been talking to bond managers about the search, which will be open. The newly hired firm will handle about $150 million. The search is being conducted to replace an underperforming manager, although the sources did not know the identity of the firm.Laurel Johnson, a plan spokeswoman, declined to comment.
According to the agenda for the fund's May 18-19 investment committee meeting, the plan will terminate a current bond manager, although the agenda does not specify which one. The plan's most recent annual report lists its fixed-income managers as BlackRock, Dodge & Cox, Johnson Investment Counsel, Weiss Peck & Greer, Wellington Management and Western Asset Management. Calls to officials at all five firms were not returned by press time.