Plumbers, Local 12, Boston, is conducting an asset allocation study of its $120 million pension plan, said Roger Gill, administrator. The study will be completed by late August. Mr. Gill does not expect manager changes to result. The current allocation is 55% equity, 35% fixed income, and 10% real estate.
Separately, the plan will conduct an invitation-only search for a direct real estate investment partnership, handling up to $5 million, said Mr. Gill. Funding will come from rebalancing, he said.
Marco Consulting is advising on the study and search.