SAN FRANCISCO - The $7.8 billion San Francisco City & County Employees' Retirement System plans to study its equity commitment - including domestic and non-U.S. stock investing.
The assessment is expected to begin in March, according to Clare Murphy, executive director of the fund.
The study is an update. While San Francisco City & County does a full asset-liability review on a three-year basis, annual updates help ensure that asset-liability assessment "is still appropriate," said Ms. Murphy.
According to the Money Market Directory, the fund had a 45% exposure to equities as of June 1996.
DeKalb Genetics Corp.
DE KALB, Ill. - DeKalb Genetics Corp., De Kalb, is studying whether to terminate its approximately $10 million defined benefit plan and possibly shift the assets into its $120 million defined contribution plan.
The defined benefit plan has been frozen since 1993. The corporation will be looking at all available options before officially terminating the plan, said Roger Maas, manager of retirement benefits at DeKalb.
The investment committee will need to decide whether to outsource record keeping, add two additional investment options and hire a consultant to help with vendor selection, he said.
The primary options the committee is considering are a small-capitalization equities fund and an international equity fund.
The defined contribution plan has five options managed by Harris Investment Management, Cooke & Bieler and Aetna Life & Casualty.
Ohio School Employees
COLUMBUS, Ohio - Officials of the $5.4 billion Ohio School Employees' Retirement System, Columbus, are thinking about investing $50 million in a real estate opportunity fund in 1997.
"We may make more additions on the non-core side, most likely through funds," said Doug Sisson, investment officer-real estate.
No decision is expected before March.
The fund's only non-core investment is in an open-end commingled opportunity fund, the J.P. Morgan Real Estate fund, which has gotten so large it's almost like a core-type vehicle, he said. The fund has 8.5%in real estate.
Oregon Public Employes
SALEM, Ore. - The $24 billion Oregon Public Employes' Retirement System is nearing the end of search for a new custody provider, and will follow that with the hiring of a third-party securities lender.
Angela Davis, assistant director of investments wouldn't name the finalists, but said two front-runners have been chosen. A decision is expected in mid-January.
Ms. Davis said the finalists are not Oregon's three current custodians: the Bank of New York, which handles short-term and fixed-income assets; Wells Fargo Bank, which handles U.S. equities; and Morgan Stanley, which handles non-U.S. equities.
Next, Oregon will choose a third-party securities lender from a number of candidates already interviewed, she said.
