Oklahoma Law Enforcement Retirement System, Oklahoma City, selected Loomis Sayles as its opportunistic core-plus/multisector fixed-income manager to run about $50 million.
The selection of the Loomis Sayles multisector full discretion strategy was approved at a June 17 board meeting, Duane Michael, executive director of the $1.2 billion pension fund, said in an email.
Mr. Michael did not provide additional information as to why Loomis Sayles was selected and whether the manager would replace another firm. The other finalist was Brandywine Global Investment Management's multisector income strategy, according to the agenda for the board meeting.
As of Feb. 28, the pension fund had three fixed-income managers: TCW Group, which runs $125 million in an active domestic core-plus portfolio; Northern Trust Asset Management, an $89 million passive domestic core portfolio; and Franklin Templeton, a $63 million active global portfolio.
OLERS issued an RFP for a fixed-income manager in March.