Nevada Public Employees' Retirement System, Carson City, hired Mellon Capital to run $350 million in an EAFE index fund, said Ken Lambert, assistant investment officer. Most of the funding will come from cash; additional sources have not yet been determined. The $14 billion pension plan added the portfolio for diversification, and it now has four international equity managers. The existing managers are Bank of New York, Putnam and GE Capital; each runs $350 million. The plan's asset allocation is 35% domestic equity, 35% domestic fixed income, 10% international equity, 10% international fixed income and 10% real estate.
Callan Associates assisted.
