Officials for the $1.2 billion Milwaukee County Employees' Retirement System hired their third international equity manager, and may conduct a search for a hometown fixed-income manager, said Jac R. Amerell, director.
In international, Rowe Price-Fleming received a $10 million assignment, Mr. Amerell said. He also said the board will decide on a search for a Milwaukee-based manager before May. The board also will decide whether to rebalance its asset mix or adjust its investment policy, Mr. Amerell said. That's because its equity allocation has gone three or four percentage points above its 50% target. A rebalancing would shuffle assets among existing managers, he noted.
The board also is taking a look at indexing part of its portfolio, and possibly increasing its use of commission recapture, although those actions are very preliminary, and no decisions have been made.