Massachusetts Water Resources Authority Retirement System, Chelsea, rehired Loomis Sayles & Co. and hired Octagon Credit Investors as multisector fixed-income managers to run a total of $42 million, recently released board meeting minutes show.
The $525 million pension fund issued an RFP in March to comply with state law requiring the services be put up for bid. Loomis Sayles was the sole incumbent manager and will continue to run $35 million. Octagon will manage $7 million, and funding for that portfolio will come from rebalancing.
As of June 30, the actual allocation to fixed income was 21.5%; the target is 21%.
Investment consultant NEPC assisted.
Julie McManus, retirement coordinator, could not be immediately reached to provide further information.