Montgomery County Employees' Retirement System, Rockville, Md. with $1.7 billion in assets, hopes to submit legislation to county lawmakers next month asking that the cap on international investing be removed, said Julie Dellinger, executive director. The system currently cannot invest more than 10% of its assets in non-U.S. securities.
The system also hopes to get lawmakers' consent to place the $150 million 457 plan in trust, as required by the Small Business Job Protection Act of 1996. The legislation also would officially put the system in charge of managing the plan's assets - which it has been doing for three years.
The system also eliminated a $22 million long/short portfolio with Numeric Investors and added the money to an existing $30 million small-cap portfolio managed by the firm.
