Indiana State Teachers' Retirement System, Indianapolis, set the asset allocations within its broad 36% allocation to U.S. stocks: 25% of the domestic equity allocation will be indexed to the S&P 500; 25%, an enhanced indexed portfolio; 10% each to active large-cap value and large-cap growth portfolios; 15% to a midcap broad manager; and 7.5% each in small-cap value and small cap-growth stocks.
Robert Newland, investment officer for the $4 billion fund, said manager searches probably won't begin until next year; the board hasn't even decided which allocation will be first. Next up is adoption of a new investment policy statement, Mr. Newland said. Callan Associates assisted.
Ventura County Employee Retirement Association, Ventura, Calif., will begin an asset allocation study in December and plans to finish it by February, said Van Perris, retirement manager. Asset Strategy Consulting will conduct the study for the $1.6 billion fund. The current asset mix: 40% domestic equity; 10% international equity; 20% domestic fixed; 10% global bonds; 5% real estate; and 15% U.S. tactical asset allocation strategy.
Frank Russell's Canadian multimanager investment funds have reached $2.1 billion in assets under management, the company announced. The funds, introduced nine years ago, doubled in the last year.
MFS Investment Management added two news funds.
The MFS New Discovery Fund, managed by Brian Stack, is a small-cap growth fund. Mr. Stack also manages an institutional small-cap fund, the MFS Emerging Equities Fund. The other new fund, the MFS Equity Income Fund, is managed by Lisa B. Nurme. a member of the investment team for the MFS Total Return Fund. The fund will invest at least 65% of assets in income-producing equities, and can invest up to 35% of assets in fixed-income. The fund also may invest up to 35% in foreign stocks and bonds.