Illinois TRS Commences Low Duration FI Search

The Teachers' Retirement System (TRS) of Illinois has issued an RFP seeking active managers for its low duration fixed income mandate ranging from $200M to $400M.

The pension said one or more managers may be awarded the allocation, which will represent 1% to 3% out of its global income umbrella of over $15B. The proposed strategies are expected to be benchmarked against the Bloomberg US Aggregate 1-3 Years index with a preferred tracking error level of below 3% while generating at least 0.5% in excess returns over a complete market cycle. Illinois TRS also expressed preference for managers with at least $10B in total AUM from its low duration fixed income strategies, with at least $500M in the proposed strategy.

Illinois TRS will accept proposals until February 28. RVK is assisting the $70.4B pension in the manager search.

Written By: Dakota

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