Engelhard Corp., Iselin, N.J., is considering rebalancing the allocation of its $250 million pension fund because of the rise in the equity markets, said Peter R. Rapin, assistant treasurer.
It could decide by February to reduce equities roughly 3 to 10 percentage points. Frank Russell Co. is assisting in a study. Mr. Rapin declined to give the current or policy allocation, saying it was complicated by tactical asset allocation the fund uses. The reallocations would be likely made without any changes in the lineup of managers.