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Oklahoma tobacco trust goes with Invesco for high-yield bonds
trueOklahoma Tobacco Settlement Endowment Trust hired Invesco to run $60 million in an active domestic high-yield portfolio.
Blackstone Alternative and NWI join for emerging markets fixed income
trueBlackstone Alternative Asset Management and NWI Management launched a joint venture — Blackstone NWI Asset Management — to invest in emerging markets fixed income.
Colorado Fire & Police picks Prudential for unconstrained bonds
trueColorado Fire & Police Pension Association hired Prudential Investment Management to run $155 million in unconstrained fixed income.
Danish pension fund goes with 5 managers for fixed income
trueLonmodtagernes Dyrtidsfond, Frederiksberg, Denmark, hired five managers to run more than 20 billion Danish kroner ($3.35 billion) in fixed income.
University of Missouri taps Reams for unconstrained bond strategy
trueUniversity of Missouri System hired Reams Asset Management to run $107 million in an unconstrained fixed-income strategy for the system's $3.3 billion defined benefit plan.
Munro shaking up Aviva Investors
trueEuan Munro, CEO at Aviva Investors, has made big changes not only to investment processes, but also to personnel, in his quest to bring the money manager to the forefront of institutional decision-makers' minds.
Illinois Teachers alters fixed-income subasset classes in move to simplify
trueThe $45.3 billion Teachers' Retirement System of the State of Illinois continues to slide its global fixed-income portfolio ever closer to the cutting edge of bond management.
El Paso County drops PIMCO for unconstrained bonds, alters asset targets
trueEl Paso County Retirement Plan, Colorado Springs, Colo., terminated PIMCO’s Unconstrained Bond Fund because of the departure of William H. Gross, the firm’s co-founder and chief investment officer.
ERAFP taps AXA Investment Managers for SRI bond strategy
trueL’etablissement de Retraite Additionnelle de La Fonction Publique, Paris, hired AXA Investment Managers to run a U.S. dollar-denominated socially responsible investment bond portfolio.
Metropolitan District Commission seeks managers for 7 strategies
trueMetropolitan District Commission, Hartford, Conn., is looking for managers to run a total of $170 million across seven strategies for its $200 million pension fund, said William Dahab, principal and director of research at Dahab Associates, investment consultant for the commission.
PIMCO reports record $27.5 billion outflows from Total Return in October
trueThe PIMCO Total Return Fund saw an estimated $27.5 billion in outflows in the month of October, the worst redemptions ever in a given month, and a clear indicator that the departure of its portfolio manager and PIMCO co-founder William H. Gross led to significant assets leaving the firm.
Secondary loan trading volumes up 20% from 2013
trueSecondary loan trading volume was up 20.3% year-to-date compared with the first three quarters of 2013. Third-quarter trading volume rose 37.2% from a year ago. Trading volume totaled $475.5 billion through the first three quarters of 2014, up from $395.1 billion a year ago.
New Mexico PERA launches emerging markets debt search
trueNew Mexico Public Employees Retirement Association launched an RFP for an emerging markets debt manager to run a $150 million to $200 million portfolio.
Ohio Bureau of Workers' Compensation gives $3 billion to 4 bond managers
trueOhio Bureau of Workers' Compensation hired J.P. Morgan Asset Management, Loomis Sayles & Co., Prudential Financial and TCW Group to run about $725 million each in active domestic core-plus fixed income for the $24 billion state insurance fund.
New Hampshire commits to co-investments with BlackRock, terminates PIMCO
trueNew Hampshire Retirement System, Concord, committed $150 million to a private equity co-investment strategy managed by BlackRock Private Equity Partners. The pension fund also terminated PIMCO from a $200 million active domestic core-plus fixed-income portfolio.