The $750 million Arlington County Retirement System, Arlington, Va., will search for an emerging markets equity manager and a core domestic index equity manager.
Trustees decided at a board meeting yesterday to boost exposure to foreign stocks to one-fifth of total assets, from 13% currently, including a separate allocation of 6% to emerging markets, said Bruce O. Kallos, administrator. In addition, the fund will reduce its global fixed-income portfolio to 27% of assets from 29% and slice its large-cap domestic portfolio to 36% - including a new 10% allocation to indexed stocks - from 39%. The fund will pare U.S. small-cap stocks to 12% from 15% and will maintain real estate at up to 5% of assets.
SEI, the fund's consultant, recommended the changes. The fund hopes to complete the emerging market search within the next month, and then search for an index manager, Mr. Kallos said.
