Stanislaus County Employees Retirement Association, Modesto, Calif., plans to conduct asset allocation and asset-liability studies later this year after hiring Strategic Investment Solutions as its consultant, effective July 1. The studies could augur a move into alternative assets, said Robert Harmon, assistant administrator at the plan. The $950 million pension funds current asset mix is 52% U.S. equities, 10% international equities and 38% domestic fixed income.
SIS will replace Capital Resource Advisors, which along with its predecessor firms was the plans consultant for 25 years. Mr. Harmon said CRAs three-year contract was up and plan trustees decided it was time for "a change in perspective.