Maine State Retirement System, Augusta, has asked consultant Ennis Knupp to conduct an asset allocation study during the first quarter of next year, said Gary Emery, investment officer for the $7.1 billion fund. Any changes will be based on the boards "ability to accept risk. "Its premature to talk about managers, Mr. Emery said. Fund executives might not do anything after the study. The funds current target allocations are: 48% domestic equity; 15% international equity; and 37% fixed income. The current allocation is slightly overweight in equities, with 51% in domestic equity, 15.5% in international equity and 33.5% in bonds.