Franklin (Tenn.) Employees’ Pension Fund hired Bradford & Marzec and Loomis Sayles & Co. to run about $6 million each in active domestic core-plus fixed income, confirmed Steven Roth, director of manager research at Dahab Associates, the $66 million pension fund’s investment consultant.
The pension fund issued an RFP in March for potential additional diversification in fixed income. The funding source has yet to be determined, but it is likely that it will come from the existing core fixed-income portfolio and no managers would be terminated, Mr. Roth said.
The other finalist was Pacific Investment Management Co.
Shirley K. Harmon, human resources director for the city of Franklin, did not return a phone call by press time.