Sheet Metal Workers Local 265, Carol Stream, Ill., is reviewing its asset allocation for its $120 million pension fund, $38 million annuity plan and $20 million welfare fund, said Erwin Pasch, administrative manager. The study is being done by new consultant Merrill Lynch Consulting Group, which replaced Marco Consulting Group at the end of August. Mr. Pasch said the trustees wanted a different opinion.
The pension funds current allocation is 50% fixed income, 40% equity and 10% real estate. The annuity plans allocation is 91% GICs and 9% equity. The welfare funds allocation is 94% short-term investments and 6% equity. The study will be finished Nov. 29, Mr. Pasch said. He would not name the funds current managers.