Iowa Municipal Fire & Police Retirement System, West Des Moines, named Dodge & Cox, MacKay Shields, J.P. Morgan Asset Management and Pyramis Global Advisors as finalists in a search to manage $75 million in core-plus fixed income, said Terry Slattery, executive director.
The $2.2 billion pension fund plans to hire one firm.
The board could make a decision on Aug. 28.
Funding is expected to come from a $75 million Barclays Capital U.S. Aggregate Bond index fund, managed by State Street Global Advisors. The assets were parked in the index fund after fund officials terminated a Treasury inflation-protected securities index fund, also managed by SSgA.
Summit Strategies Group, the pension fund's investment consultant, is assisting in the search.
