Virginia Retirement System, Richmond, adopted an asset allocation plan for the $22 million Commonwealth Health Research Fund, a state-funded health care research organization. VRS' existing managers will get the money. VRS, which has taken over managing the money for the health research fund, decided to put 70% of the fund's assets into stocks and the balance into fixed income, said William H. Leighty, VRS' executive director. The fund did not previously have a formal asset allocation.
Also, Nancy Everett, deputy CIO of the retirement system, will take over from CIO Ervin H. Will Jr. when he retirees in December, Mr. Will said.
