Oklahoma Law Enforcement Retirement System, Oklahoma City, hired Franklin Templeton Investments to run $70 million in opportunistic global fixed income, confirmed Ginger Poplin, executive director.
Brandywine Global Investment Management and Loomis Sayles & Co. were also finalists. An RFP was issued in July.
Funding comes from rebalancing. The pension fund last year split its 30% overall fixed-income allocation to 10% each core bonds, core-plus bonds and global bonds. There are now roughly equal allocations among Franklin Templeton, Northern Trust Global Investments' indexed bond portfolio and TCW Group's active domestic fixed-income portfolio.
Investment consultant Asset Consulting Group assisted the $760 million pension fund.
