The City of Jacksonville Retirement System has selected Schroders Flexibles Secured Income (FLEXSI) for a $100-$108 million unconstrained securitized fixed income mandate.
Additionally, Franklin Templeton was terminated due to underperformance. Proceeds will be reallocated to Schroders and Loomis Sayles.
Columbia Threadneedle and TCW were also considered for the search. RVK assisted with the search.
As of June 30, 2022, the $2.5 billion Retirement System has an actual and target allocation to fixed income of 18.3% and 20% respectively.
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