Chicago Park Employees' Annuity & Benefit Fund is likely to conduct a complete review of its asset allocation, said Joseph Fratto, executive director of the $610 million fund.
The state Legislature passed a bill allowing the fund to adopt a prudent-person rule, and Gov. Jim Edgar is expected to sign it within 30 to 45 days, Mr. Fratto said. Should he sign it, Becker Burke, one of the fund's consultants, will embark on a review of all aspects of the investments of the fund, ``everything from soup to nuts,'' he said.
The fund's current target allocations are: 45% U.S. equities; 5% non-U.S. equities; 5% real estate; 43% U.S. bonds; and 2% cash.