Key Takeaways
- • A West Coast county retirement association has hired a manager for its long duration credit allocation, according to Financial Investment News (FIN).
- • The search was launched over the summer after the pension increased its long duration credit target.
- • The hire reflects a pension fund's move to lengthen its fixed income duration profile through dedicated long credit exposure.
Summary
A West Coast county retirement association has made a hire in its long duration credit portfolio, according to a report from Financial Investment News (FIN). The primary source reports the retirement association began its search over the summer, following a decision to increase its long duration credit target.
The move indicates the pension's intent to extend the duration of its fixed income holdings through a larger allocation to long-dated corporate credit. Long duration credit strategies are typically used by public pensions seeking to better match liabilities with long-dated obligations, and a higher target generally requires additional manager capacity to implement.
The source article is brief and does not disclose the name of the hired manager, the mandate size, or the fee terms. Readers seeking those details should consult the original FIN report or the retirement association's board materials.
The move indicates the pension's intent to extend the duration of its fixed income holdings through a larger allocation to long-dated corporate credit. Long duration credit strategies are typically used by public pensions seeking to better match liabilities with long-dated obligations, and a higher target generally requires additional manager capacity to implement.
The source article is brief and does not disclose the name of the hired manager, the mandate size, or the fee terms. Readers seeking those details should consult the original FIN report or the retirement association's board materials.
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