National Railroad Retirement Investment Trust, a new pension fund starting with $20 billion in assets, plans to search for an investment consultant and a custodian bank, said John J. Salmon, counsel to the trust. The searches could begin in the next few weeks. The investment consultant will help implement the asset allocation and timing of the investment of the assets, as well as search for investment managers in the future.
The trust hired Watson Wyatt Investment Consulting to conduct an asset-liability study and develop a long-term strategic asset allocation.
