The Milwaukee County Employees' Retirement System is having a tough time finding investments for a $15 million commitment to economically targeted investments.
Jac Amerell, director, said the system, which has $1 billion in assets, has invested less than $3 million in more than two years of working at it, he said.
Mr. Amerell said it's puzzling that the board hasn't been able to find more ETIs that work from a fiduciary standpoint. "The product just isn't hitting the table."
Performance has been good on ETIs that have gotten board approval, he said. The ETIs are in a community reinvestment fund, a Government National Mortgage Association pool of Milwaukee area mortgages and other housing-related investments.