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FUNDRAISING NEWS | June 07, 2023

Detroit Police & Fire Hire Commodities Managers; Replace High Yield Managers

Tags: Pension Funds, Fixed Income

The Police and Fire Retirement System of the City of Detroit has approved hiring Parametric Portfolio Associates and Wellington Management as Commodities Managers, according to meeting minutes from the April board meeting.

Additionally, staff approved terminating Penn Capital. Shenkman Capital High Yield and Arena Capital High Yield were hired to replace Penn Capital.Funds will be distributed equally between Shenkman and Arena Capital.

Wilshire assisted with both investment recommendations.

For more public pension insights and a comprehensive library of public plan minutes, we would love to offer you a free trial of Dakota Marketplace!

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Written By: Koncheng Moua, Director of Data Management and Strategy

Koncheng Moua is the Director of Data Management and Strategy at Dakota.

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