Richmond (Va.) Retirement System asked its consultant to conduct an invitation-only search for domestic core and global fixed-income managers, said Philip R. Langham, executive director. BlackRock currently runs $60 million in core fixed income for the $533 million fund, while Agincourt and Richmond Capital run $13 million each in core bonds and Fischer Francis Trees & Watts manages $46 million in global bonds. The board will not necessarily replace the incumbents; officials want to see if new managers would “enhance returns,” Mr. Langham said.
Consultant RogersCasey will recommend candidates at an Oct. 16 board meeting, and the board to hopes to make any changes by January.
