South Carolina Retirement System , Columbia, is undertaking an...

South Carolina Retirement System, Columbia, is undertaking an asset-liability study of the $21 billion system, reviewing its exposure to domestic large-cap and small-cap stocks, a large portion of which is indexed, said Michael Sponhour, spokesman. Currently, 25% of total assets is in stocks; under the law the system can have a maximum of 40% of assets in equities. William M. Mercer, which is conducting the study, will present its recommendations to the five-member investment panel at its April 16 meeting.