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PERS Mississippi hears fixed‑income manager presentations from Loomis Sayles, Manulife, PIMCO and PGIM
Summary
Managers for roughly half of PERS Mississippi’s fixed‑income sleeve reviewed strong recent returns, positioning and scenario planning; firms said they are favoring higher‑quality, liquid holdings and hedging duration while awaiting potential market dislocations.
The Public Employees Retirement System of Mississippi’s investment committee convened for manager presentations from Loomis Sayles, Manulife Investment Management, PIMCO and PGIM, hearing results, strategy positioning and market outlooks for the system’s fixed‑income allocation.
The meeting opened with staff noting fixed income represents a little more than 20% of the overall plan and the four managers presenting represent roughly half of that sleeve, or about 10% of the defined‑benefit portfolio. David Dwire, who oversees the public fixed‑income and private credit portfolios for PERS Mississippi, said the managers’ 12‑month returns were “all in excess of 12%,” with one manager above 13%.
Loomis Sayles: firm update, attribution and scenario planning Matt Buxton of Loomis Sayles described firm‑level growth and team stability, reporting recent net inflows and a firm AUM figure the presenters cited around $388 billion. Co‑portfolio manager Rick Hruskowski said the strategy’s outperformance over the past year was driven by an overweight to duration and favorable spread sector…
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