Massachusetts Housing Finance Agency Retirement System, Boston, hired Phoenix Realty as its first real estate manager, and INVESCO as its first international equities manager, said William R. Farmer, executive director.
Phoenix will manage $1.5 million in an open-end separate account, and INVESCO will manage $3.5 million in an active portfolio. The system, with about $33 million in assets, added the managers following an asset allocation study by Dahab Associates, the fund's consultant. The fund also has 40% of its assets in domestic bonds and 45% in U.S. equities, Mr. Farmer said.
