Manchester (Conn.) Retirement Allowance Fund plans to rebalance its portfolio this month to reduce its domestic equity exposure and increase its international stock exposure, said Alan Desmarais, director of finance. The $103 million systems domestic equity target is 40%, but the asset class has grown to almost 50%, Mr. Desmarais said. The systems international equity allocation is 10%; existing managers Hotchkis and Wiley and Bank of Ireland will receive additional money as part of the rebalancing. The rest of the systems assets are 40% in domestic fixed income, 5% in real estate and 5% in cash. PaineWebber assisted.