Springfield (Mo.) Police Officers’ & Firefighters’ Retirement System hired Income Research & Management to run about $30 million in an active domestic long-duration fixed-income portfolio, said Janell Manley, administrative director.
The $302 million pension fund conducted an invitation-only search earlier this year for a long-duration manager to further diversify the portfolio, Ms. Manley said. Funding will come from equity managers and cash over time, she added. No managers will be terminated.
Ms. Manley declined to name other finalists.