Contra Costa County Employees Retirement Association, Concord, Calif., will do an asset-liability study in late May, said Patricia Wiegert, retirement administrator.
The study, to be conducted by Dorn, Helliesen & Cottle, stems from the $3 billion pension funds triennial review. Currently, the target asset mix is 42% domestic equities; 10% international equities; 32% domestic fixed income; 3% international fixed income; 8% real estate; 4% alternative investments; and 1% cash.
Later in the year, the fund likely will focus on alternative investments and real estate, Ms. Wiegert said. On March 17, the fund will choose its first high-yield bond manager. Finalists for the roughly $50 million mandate are Fountain, Credit Suisse, PIMCO, Nicholas-Applegate and Shenkman.