The San Diego City Employees' Retirement System (SDCERS) has made an investment in the Term ABS Loan Facility (TALF) with Metropolitan West Asset Management (MetWest). The firm will manage $80 million of the plan's assets.
Meanwhile, SDCERS has selected Invesco for an equity market neutral mandate, ending a search it approved late last year.
Rebecca Wilson, chief of staff at the $3.3 billion plan, said Invesco would manage a $100 million portfolio. Also considered for the account were Acadian Asset Management, Analytic Investors and Barclays Global Investors.
In December 2008, SDCERS authorized its consultant Callan Associates to seek out market neutral managers.
SDCERS has target allocations of 38% domestic equity, 17% international equity, 21% domestic fixed-income, 4% international fixed-income, 11% real estate and 9% market neutral strategies.
