Tag: fixed income investments

North Carolina Pension Value Falls in 3rd Quarter On Weak Stock Performance

North carolinaNorth Carolina’s state-level pension funds, jointly managed by the state Treasurer, collectively declined 1 percent in the 3rd quarter after the funds’ stock portfolio turned in weak returns.

From the News Observer:

The slight decline was largely the result of losses in the fund’s stock portfolio.

Stock investments, which accounted for 43 percent of the portfolio, declined 2.9 percent in the third quarter and are up 10.9 percent over the past year. Returns are calculated after deducting fees paid to money managers hired by the state.

Fixed-income investments, which account for 30 percent of the portfolio, gained .4 percent in the quarter and have returned 5.9 percent over the past 12 months. Other 12-month returns for the portfolio: real estate, 17.9 percent; alternatives such as hedge funds, 17.5 percent.

The pension fund’s assets at the end of the third quarter were valued at 88.4 billion, down from $90.1 billion at the end of its fiscal year in June.

The pension fund provides retirement benefits for more than 900,000 workers, including teachers, state employees, firefighters and police officers.

The state Treasurer’s office manages assets for the Teachers’ and State Employees’ Retirement System, the Consolidated Judicial Retirement System, the Firemen’s and Rescue Workers’ Pension Fund, the Local Governmental Employees’ Retirement System, the Legislative Retirement System, and the North Carolina National Guard Pension Fund.

Florida Pension Continues Search For Senior Fixed Income Manager

NOW HIRINGThe Florida State Board of Administration (SBA), the entity that manages investments for the Florida Retirement Systems, has re-posted a job listing looking for a senior portfolio manager to manage fixed income investments.

The SBA appears to have increased the top range of the position’s potential salary, from $140,000 to $180,000. The job pays, at minimum, $120,000. The listing reads:

Responsibilities

50%. Research and analysis of economic and market information to support the Internal Fixed Income investment process. Shape the interest rate view and contribute relative value ideas. This will involve, but not be limited to; analyzing written publications and conversing with economists and strategist regarding individual country or global economic conditions and prospects, researching, understanding and explaining the implications of economic projections on the current structure of internal portfolios, researching, analyzing and presenting relative value opportunities for internal portfolios and constructing, explaining and presenting trade ideas to capture relative value opportunities.

25%   Supervision of and backup for Portfolio Manager

10%.   Preparation for and participation in weekly group strategy meeting.

15%. Assist the Sr. Investment Officer-Fixed Income with special projects and perform other duties as delegated.

Qualifications

(Re-advertisement – Previous applicants will be considered and need not re-apply)

A bachelor’s degree from an accredited college or university in computer science, MIS, accounting, finance, business, communication, public information, marketing, economics, mathematicis, statistics, or management and five years of related professional experience, three years of which must have been at a supervisory level or higher;

Or, a master’s degree or MBA from an accredited college or university and three years of related professional experience, two years of which must have been at a supervisory level or higher.

Professional related experience will substitute for the required college education.

Preference will be given to candidates with a Chartered Financial Analyst (CFA) designation.

The application period closes on October 10.

View the listing by clicking here.

 

Photo by Nathan Stephens via Flickr CC License