The New York City Retirement Systems will look for improved yield and bank loan fixed-income portfolios through a pilot program of the city comptroller’s Bureau of Asset Management, Pensions & Investments reports. The program will allow a larger universe of potential investment managers to participate in the procurement process, as opposed to a limited number of responses in case of a formal request for proposals. The new three-year contracts will have renewal options of up to three more years. The New York City Employees’ Retirement System and the Teachers’ Retirement System are among the five city pension funds.
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