Roseville (Mich.) City Employees Retirement System is conducting an asset allocation study that should be finished in May, said Gerald Alsip, chairman. Manager changes are unlikely even if plan officials change the asset allocation model, he said. Merrill Lynch is assisting.
Separately, the $116 million pension plan hired Seizert Hershey to manage $13 million in active domestic large-cap value equities, Mr. Alsip said. Funding came from terminating Aeltus Investment, which ran the money in a similar style, for performance, Mr. Alsip said. Arleen Driscoll, Aeltus spokeswoman, did not return calls seeking comment by press time.