North Dakota State Investment Board, Bismarck, is conducting an invitation-only search for a mortgage-backed securities manager to run about $115 million, said David Hunter, executive director and chief investment officer.
The board, which oversees $8.7 billion in assets, is conducting the search because current manager Western Asset Management is on watch for performance and personnel changes.
Mr. Hunter said in a telephone interview that investment consultant Callan Associates will put together a shortlist of potential managers, and WAMCO will be on that list. Interested managers can contact Callan, he said.
He said the board hopes to have a decision “within the next few months.”
WAMCO spokeswoman Mary Athridge did not provide comment by press time.