Gwinnett County Employees' Retirement System, Lawrenceville, Ga., hired Columbia Threadneedle Investments, Hartford Funds Management Co., and Pacific Investment Management Co. to run a total of up to about $68 million in unconstrained fixed-income portfolios.
The $1.4 billion pension fund's retirement plans management committee approved the hirings at its Dec. 2 meeting, said Michael Poole, the county’s investment and debt manager, in an email. Funding comes from rebalancing.
As of Dec. 31, the actual allocation to fixed income was 24.2%.
Investment consultant UBS assisted.
