Oklahoma Police Pension & Retirement System, Oklahoma City, hired Metropolitan West Asset Management to run just under $90 million in a liquid absolute-return fixed-income strategy.
The $2.6 billion pension fund's board at its Sept. 16 meeting approved hiring the manager to run its unconstrained fixed-income strategy, said Ginger Sigler, executive director, in an email.
The pension fund issued an RFP in January. The other finalists were J.P. Morgan Asset Management and Voya Investment Management.
As of Aug. 31, the actual allocation to absolute return was 6.1%; the target is 7.5%.
Investment consultant Asset Consulting Group assisted.