Dallas Employees' Retirement System, with $1.2 billion in assets, expects to complete a total asset allocation review by the end of 1996, said Gail Smith, assistant administrator. The review could result in manager searches by the end of 1996 or early in 1997, she said. Another source said the Dallas fund is considering adding at least one small-cap equity manager.
The review, undertaken with Wilshire Associates, is ``to see where we are and where we need to be,'' Ms. Smith said. The current asset mix is roughly 60% stocks, 36% fixed income, 3% real estate and 1% venture capital.