Illinois Municipal Retirement Fund, Oak Brook, plans to increase the assignments of core fixed-income managers Piedmont Investment Advisors and EARNEST Partners, said Linda Horrell, the $25.3 billion fund’s communications manager.
The IMRF board expects to determine the funding amounts and timing before the end of June.
Piedmont manages $282 million for the fund and EARNEST, $260 million.
The moves are being done to rebalance the fund.
Callan Associates, the fund’s investment consultant, is assisting.