Mississippi PERS signs Manulife for core bonds

Mississippi Public Employees' Retirement System, Jackson, hired Manulife Asset Management to run $487 million in domestic core fixed income, said Lorrie Tingle, chief investment office of the $26 billion system.

Manulife replaces Aberdeen Asset Management, which has exited the U.S. core fixed-income business, Ms. Tingle wrote in an email.

The pension fund's overall fixed-income target is 20%.