Oklahoma Teachers' Retirement System, Oklahoma City, increased its international equity allocation to 13% of assets from 5%. Fixed income dropped to 35% of assets from 40%, and domestic equities declined to 52% of assets from 55%. Officials of the $3.6 billion fund said RFPs for additional international stock managers probably will be issued next year, but no decision has been made on when or what kind of managers to seek.
Tom Beavers, executive secretary, said no decision has been made yet on how fixed income will be reduced, but added no managers will be eliminated.
The Hotel Employees and Restaurant Employees Severance Fund, Local 54, Atlantic City, N.J., is conducting a ``top to bottom'' review of its money managers and investment guidelines, said James F. Flanagan, trustee. Under consideration is whether to invest in stocks. Marco Consulting Group is assisting.
``Periodically, it's only prudent that trustees evaluate their money managers,'' Mr. Flanagan said. The fund, with $37 million, now has all of its assets in fixed income with Merrill Lynch and Investment Advisers Inc., because it ``must remain fairly liquid since you never know when there will be a layoff in the industry.''