Police and Firemens Disability & Pension Fund of Ohio, Columbus, will begin an asset-liability study in July. Allen Proctor, executive director of the $8.2 billion fund, expects some reallocation to occur as a result of the study, but is not sure which asset classes would be affected. The asset-liability study will be a first for the fund, which traditionally conducts asset allocation studies. He expects the review to take six months. The current target asset allocation is: 41% domestic equity; 15% international equity; 35% U.S. fixed income; 8% real estate; and 1% private equity.