Tennessee Consolidated Retirement System, Nashville, will begin an...

Tennessee Consolidated Retirement System, Nashville, will begin an asset allocation study by January and expects to increase the $23 billion defined benefit plan’s real estate allocation to 4% from 1%, said Thomas Milne, chief investment officer. The current mix is 33% domestic equities, 7% international equities, 52% domestic fixed income, 4% international fixed income, 1% real estate and 3% cash. No timetable was set for completion. Callan will conduct the study.