Spokane Employees sticks with Hyas Group as consultant

Spokane (Wash.) Employees’ Retirement System rehired Hyas Group as investment consultant, said Phillip Tencick, retirement director.

The $290 million pension fund issued an RFP in May due to the pending expiration of Hyas Group’s contract.

Other finalists were Callan Associates, Pension Consulting Alliance and Wilshire Associates.

Also, the pension fund’s board approved an asset allocation study at its Dec. 2 board meeting. Mr. Tencick said the study is regularly scheduled to take place following the hiring of the consultant. No specific asset classes are being considered, although they “haven’t taken anything off the table,” he added.

A timeline for the study has yet to be determined. The pension fund does not issue RFPs for managers.

Current target allocations are 50% global equity, 15% global fixed income, 14% long/short equity and special opportunities, 10% absolute return, 6% real estate, 4% commodities and 1% cash.

The actual allocation as of Sept. 30 was 48.7% global equity, 14.9% long/short equity and special opportunities, 13.5% absolute return, 11.6% global fixed income, 7.1% real estate, 3.6% commodities, and 0.6% cash.