Alaska Retirement Management Board, Juneau, will look at higher-alpha fixed-income strategies, said Gary Bader, CIO. Currently, the board invests $3 billion in fixed income, of which $2.8 billion is managed in core portfolios and $210 million in high yield. Any allocations to higher-alpha strategies would likely come from core fixed income, Mr. Bader said. The board, which oversees $13.5 billion in pension assets, asked consultant Callan Associates to report back with opportunities before the board's March 23-24 meeting. Trustees decided to study the area following a presentation of a strategic mortgage-backed securities strategy from TCW. No dollar amount is yet is being discussed.
Also, the fund committed $125 million each to Abbott Capital and Pathway Capital Management, its two private equity gatekeepers. Currently, Abbott and Pathway manage $445 million and $173 million, respectively, for the fund. The board also committed $30 million to LaSalle Investment Management's Medical Office Fund II as part of the fund's real estate portfolio.
In addition, the board hired Gabriel, Roeder, Smith as its second actuary. Gabriel Roeder Smith will review the work of the fund's primary actuary, Buck Consultants, as well as the fund's actuarial assumptions.