St. Clair County Employees Retirement System, Port Huron, Mich., hired Portfolio Analytics as its first consultant, said William Herpel, board chairman and plan trustee.
The firm will conduct an asset allocation study and help the $178 million pension plan develop an investment policy. Manager searches may result.
The plan uses four balanced managers, Mr. Herpel said. Fifth Third Bank manages $75 million; Independence One Capital (Michigan National Bank), $52 million; Pillar Capital Management, $36 million; and Investment Counsel Inc., $15 million.
The hiring was prompted by the acquisition of several of its managers and the merger of Pillar Capital and Investment Counsel, Mr. Herpel said.