Brockton (Mass.) Contributory Retirement System is conducting an asset allocation study, said Harold P. Hanna Jr., executive director. The $190 million systems allocation is 32% domestic stocks, 30% domestic fixed income, 25% international stocks and bonds, 10% real estate, 3% venture capital. Consultant Wainwright Investment Counsel is expected to recommend an allocation to high-yield bonds as part of the systems overall domestic fixed-income exposure, Mr. Hanna said.
The system also will search for a real estate manager, but not until the fall, to bring its allocation up to the target. Current exposure is 7.28%, Mr. Hanna said.