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Hawaii Employees OKs real estate, infrastructure commitments
trueHawaii Employees' Retirement System, Honolulu, approved $105 million total in real estate commitments and a $50 million infrastructure commitment, said Vijoy Chattergy, chief investment officer.
Amundi Smith Breeden going global after merger
trueAmundi Smith Breeden LLC has been in growth mode in the year since its creation from the acquisition by Paris-based Amundi of U.S. fixed-income specialist Smith Breeden Associates.
Global, diversified managers in best position moving forward — report
trueImprovements in technology and regulatory reform have made geographical constraints even less of an issue in terms of capital management, resulting in the asset management industry becoming more global, a recent report by Goldman Sachs said.
N.Y. Power taps 2 bond managers for Nuclear Decommissioning Trust
trueNew York Power Authority, White Plains, hired Garcia Hamilton & Associates and C.S. McKee as active core fixed-income managers for its $1.4 billion Nuclear Decommissioning Trust Fund, said Paul DeMichele, spokesman, in an e-mail.
Russell replaces PIMCO with Scout on 2 bond funds
trueRussell Investments has moved at least $2 billion that was managed by PIMCO in its multimanager strategies and funds, terminating the firm and replacing it with Scout Investments, filings and company statements show.
Fort Lauderdale Police & Fire axes PIMCO
trueFort Lauderdale (Fla.) Police & Fire Retirement System terminated Pacific Investment Management Co. from a $37 million portfolio, said Frederick H. Nesbitt, director of public information.
Louisiana Municipal Police goes with Guggenheim for high yield
trueLouisiana Municipal Police Employees Retirement System, Baton Rouge, hired Guggenheim Investments to run between $50 million and $55 million in an active domestic high-yield bond portfolio, said Kelli Rogers, chief financial officer.
Laredo Firefighters replaces PIMCO with J.P. Morgan
trueLaredo (Texas) Firefighters’ Retirement System hired J.P. Morgan Asset Management to run about $12 million in core-plus fixed income, said Jaime Jasso, pension administrator.
IACPM: Credit default concerns rising outside North America
trueCredit portfolio managers are concerned about credit defaults potentially rising over the next 12 months, but see credit spreads remaining steady over the next three months, said a survey from the International Association of Credit Portfolio Managers.
Long bond yield continues to slide
trueThe yield on 30-year U.S. Treasuries continued to slide Wednesday, hitting an intraday low of 2.67% (a level not seen since August 2012) before rebounding to 2.84%.
Old Mutual Global Investors hires 6 from Ignis for absolute-return launch
trueOld Mutual Global Investors hired a team of six to launch and manage a set of absolute-return funds, said a spokeswoman.
Arkansas Teachers terminates $475 million PIMCO portfolio
trueArkansas Teacher Retirement System, Little Rock, terminated Pacific Investment Management Co., which managed about $475 million in its Total Return strategy for the pension fund, said George Hopkins, executive director.
Risk of star dependence
trueThe departure of William H. Gross from Pacific Investment Management Co. LLC leaves money management companies and institutional fiduciary clients alike wondering whether they should encourage the star system or a team approach to managing money.
The Gross effect
trueMany asset owner clients of Pacific Investment Management Co. cited their long-term relationship with the firm — ties that go beyond co-founder and Chief Investment Officer William H. Gross — as a reason for not terminating the firm after Mr. Gross' unexpected move last month to Janus Capital ...
Better liquidity hoped for from electronic venues
trueCreators of electronic trading venues for fixed-income securities are hoping that, by matching buyers and sellers, more choices in trading will result in more liquidity in the secondary market.