The Frederick County Employees’ Retirement Plan will be conducting a search to replace the core plus manager, PIMCO Total Return fund, according to meeting minutes from the June board meeting.
Marquette recommended initiating the search as the $875 million Retirement Plan moves from a core plus approach to core.
It was also recommended that the retirement plan begin adding TIPS exposure. 75% of the fixed income portfolio will be targeted to core mandates, and 25% to a passive TIPS, investment grade, and additional inflation protection.
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