Louisiana Municipal Police Employees’ Retirement System, Baton Rouge, will search for a domestic high-yield fixed-income manager to run about $83 million and an active emerging markets debt manager to run about $52 million, said Kelli Rogers, chief financial officer.
The $1.8 billion pension fund will soon issue RFPs for each portfolio. The high-yield search is the result of the board’s decision at its Wednesday meeting to terminate current high-yield manager Post Advisory Group because of personnel changes at the firm. Post manages $83 million.
The emerging markets debt search is the result of a new 3% target to the asset class as part of an asset allocation adopted in July. Specific funding information has yet to be determined, but targets to domestic equity and core fixed income were reduced in that new allocation.
Ms. Rogers said RFPs will shortly be posted on the pension fund’s website and also on the website of NEPC, the fund’s investment consultant.
