Phoenix City Employees Retirement System Hires LIM

The $2.4 billion Phoenix City Employee Retirement System announced a restructuring of its fixed income portfolio that eliminates its core plus bond allocation and splits the allocation between two active Core managers and a passive Core portfolio.  As part of that restructuring, Phoenix hired LIM to manage a $90 million Core portfolio.

The plan’s fixed allocation will now be 15% to core, 7% to TIPS, 5% to high yield, and 3% to bank loans and emerging markets bonds respectively.

News regarding the restructuring was released on November 8, 2017, by Financial Investment News.