Illinois State Board of Investment, Chicago, is reviewing its asset allocation and investment managers in anticipation of $1.5 billion in proceeds from the sale of state pension obligation bonds, said William Atwood, executive director for the $7 billion fund. "The staff is internally studying the asset allocation and will determine with the board whether to engage an outside consultant to do further allocation study, Mr. Atwood said; a decision could be made in the next month.
Timing of the distribution depends on when the bonds are sold, Mr. Atwood added. He expects the board will receive the proceeds by the end of the year.
The funds allocation is 46% domestic equity, 15% international equity, 23% fixed income, 8% real estate and 8% private equity.