Pennsylvania Treasury Department, Harrisburg, hired PFM Asset Management to help select women-owned and/or minority managers for its new $400 million Treasury Opportunity fund of funds. Spokeswoman Carrie Fischer Lepore confirmed PFM could ultimately run up to 10% of the Treasurys entire $17 billion portfolio.
Funding will come from existing fixed-income and equity funds; no managers will be terminated. No consultant assisted.