The $200 million National Gypsum Co. pension fund, Charlotte, N.C., is doing an asset allocation study with Wilshire Associates, said James Brown, director-qualified plans. ``We'll be looking at considerations presented by Wilshire and, depending on the reaction by the committee, implementing them in six to nine months,'' he said. The committee may begin to make decisions on the study in mid-summer.
The committee will determine later whether new assignments could be handled by existing managers or if the fund would need to search for new managers. No recommendations have yet been made, but discussions with Wilshire suggest the fund place 40% to 50% of its equities in passive management and bolster its international equities to 15% to 20% of the total fund. The fund now is all actively managed and has an estimated 55% of its assets in equities, including a fluctuating international allocation of 10% to 15%; 35% in fixed income; and 10% in special ventures and cash.