The Board today (May 14, 2018) discussed again the relative performance of the four managers interviewed on April 12, 2018 over the last five years, and based on those numbers decided to switch to Loomis Sayles because its numbers were better than IR&M’s (the incumbent).
IR+M has been the manager of the Franklin Regional Retirement System’s fixed income allocation since 2003. Loomis Sayles will takeover and manage the $17 million allocation for at least the next 7 years until the next required re-bid of the allocation.
The 4 interviewees were very impressive:
- Loomis, Sayles Company
- Income Research + Management (IR+M)
- Wellington Management
- Western Asset Management
Thank you all.