Illinois Muni To Boost Bond Mandates

Illinois Municipal Retirement Fund is planning to expand the portfolios managed by two core fixed-income managers.

Illinois Municipal Retirement Fund (IMRF) is planning to expand the portfolios managed by two core fixed-income managers, Pensions & Investments reports. Piedmont Investment Advisors manages $282 million for the $25.3 billion fund, while EARNEST Partners manages $260 million.IMRF will be slashing a $1.7 billion Barclays Capital Aggregate fixed-income index fund, managed by Northern Trust Global Investments, for the increased funding. The pension fund is being assisted by investment consultant, Callan Associates.

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