Montgomery (Ala.) Employees Retirement System is conducting an asset allocation review, said Irby Thompson, consultant, at Welch Hornesby & Welch. The current allocation of the $250 million system is 40% equities and 60% fixed income, he said.
The system also has a list of 20 active managers to select for a variety of portfolios. In equities, growth and value mandates include domestic large-cap, large-cap to midcap, and small-cap; and international. Also, a manager will be hired to run active domestic fixed income. The number of managers to be hired for each asset class and their allocations have not yet been determined, pending the results of the review.
New managers are expected to be in place by July 1, he said.