Nevada Public Employees Retirement System, Carson City, shifted a total of $800 million to Lehman Aggregate index fund managers BGI, UBS and Payden & Rygel, with the amount being divided equally among the three, said Ken Lambert, CIO of the $22.6 billion fund. All three managers will now run $1.1 billion each. Funding comes from Payden & Rygels $800 million active domestic fixed-income portfolio; the money was moved in a strategic shift and not for performance reasons, Mr. Lambert said. The move aligns the funds 30% bond allocation with its 40% equity allocation, which also is two-thirds passively managed; half of the bond portfolio was actively managed. Having three passive bond managers adds diversification with little cost, and all three passive bond managers are strategic partners, running multiple portfolios for the fund, Mr. Lambert said. No consultant assisted.