Florida School Board Insurance Trust, Tallahassee, hired Sage Advisory Services to run the $12 million trusts assets in short-term fixed income, confirmed Deborah Draeger, Sage Advisory spokeswoman.
Ms. Draeger said it was a new mandate and no manager is being terminated. Efforts to reach an official at the board were unsuccessful by press time. Consultant SunTrust Investment Services assisted. Efforts to reach Sun Trust also were unsuccessful.