Kern County Considers $240M Investment in Aristotle FI Strategy

Kern County Employees’ Retirement Association is considering a commitment of up to $240M to a US fixed income short duration strategy, pending board approval.

The pension’s CIO and senior investment personnel issued a memo dated December 2 recommending the investment in Aristotle Short Duration Bond Strategy, which will fulfill the 4% policy allocation to short-term investment-grade credit. This asset subclass is part of the 15% core allocation under the 25% fixed-income umbrella, with the remaining 10% representing credit allocation.

Kern County said that its fixed income policy is valued at $1.2B, with its core fixed income accounting for $723M or 11.8% of the pension portfolio, as of September 30.

For more public pension insights and a comprehensive library of public plan minutes, book a demo of Dakota Marketplace!