Burlington (Vt.) Employees' Retirement System approved an investment in the BlackRock Strategic Income Opportunities Fund.
The $236 million pension fund's board approved the investment in the dynamic fixed-income mutual fund at its Sept. 20 meeting, recently released meeting minutes show. The minutes do not disclose the amount the system will invest.
Funding will come from a core fixed-income portfolio managed by Johnson Investment Counsel. As of March 31, that fund had $41 million in assets in the plan, according to the pension fund's most recent available investment report.
Investment consultant Fiducient Advisors assisted.
Lisa Heald, retirement administrator, could not be immediately reached for further information.