Tennessee Consolidated Retirement System, Nashville, likely will begin an asset allocation study by the end of the year, said Tom Milne, CIO. The last study was conducted in the first quarter of 2002, Mr. Milne said; the $23.5 billion pension plan tries to conduct an asset allocation study every two years. No changes are expected, he said.
The system's asset allocation is 48% domestic fixed income, 35% domestic equity, 10% international equity, 3% international fixed income, 3% cash and 1% real estate. Callan Associates, the system's general consultant, will assist.