South Carolina Retirement System, Columbia, may add two active small-cap equities managers — value and growth — after consultant Mercer Investment Consulting recommended that the $21 billion system increase its equity exposure to 40%, the statutory limit, from 32%, said Mike Sponhour, spokesman. The recommendation now goes before the South Carolina Budget and Control Board; if approved, it would take effect July 1. Funding would come from cutting exposure to fixed-income. Mercer is preparing a shortlist of managers.
The investment panel also may invest in REITs; it has no exposure to the asset class.
