San Luis Obispo County (Calif.) Pension Trust hired State Street Global Advisors and BlackRock to manage roughly $225 million in two fixed-income index funds, confirmed Carl Nelson, executive director of the $1.5 billion plan, in an email
The board selected SSGA to manage 8% of the portfolio, or about $120 million, in a U.S. government bond index fund; and BlackRock to run 7% of the portfolio, or roughly $105 million, in a U.S. treasury inflation protection securities index fund.
The board will allocate the full amounts into the index funds over the next year or two. Funding will come from rebalancing.
The board also hired NEPC to assist in the selection of a private markets investment consultant, which the pension trust plans to hire later this year, according to Mr. Nelson.
The index funds were selected at the board's Feb. 22 meeting. NEPC was hired at its Monday meeting.
