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Investment committee hears presentations from AllianceBernstein, PIMCO and Wellington on global/non‑U.S. fixed income
Summary
Three non‑U.S. fixed‑income managers (AllianceBernstein, PIMCO and Wellington) presented portfolio performance, outlook and positioning to PERS’s Investment Committee; staff noted a planned underweight to China across global fixed‑income sleeves and managers discussed macro drivers including trade policy and global growth risks.
The Public Employees Retirement System of Mississippi’s Investment Committee received presentations from three non‑U.S. fixed‑income managers on May 20: AllianceBernstein (AB) presented its global bond strategy, PIMCO presented its global portfolio and Wellington presented the plan’s emerging‑market debt sleeve.
The presentations were framed around recent market volatility, the macro outlook and portfolio positioning; all three managers emphasized the benefits of global diversification while flagging trade‑policy uncertainty and potential growth slowing as key near‑term risks.
AllianceBernstein: Amanda Dunn (relationship manager) and AJ Rivers (senior investment strategist) said AB’s global multi‑sector strategy seeks value from yield‑curve (country) selection, sector rotation and security selection. AB told trustees that, over the 12‑month period presented, the strategy underperformed the benchmark by about 47…
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