ROSEMEAD, Calif. - Southern California Edison Co. hired State Street Global Advisors to manage a $100 million Russell 200 index portfolio as a result of an ongoing asset allocation review. The $2.9 billion pension fund was underweighted in domestic large-cap equities, said David Ertel, manager of investments. Funding came from reducing existing domestic equity allocations.
The plan's current allocation is 45% domestic equities, 25% international equities, 26% domestic fixed income and 4% alternative investments, primarily venture capital and private equity, Mr. Ertel said. The fund hopes to complete the review by year-end and to implement recommendations next year.
Frank Russell is assisting.