Alaska Hotel & Restaurant Employees Pension Trust, Anchorage, hired Quest Investment, Dodge & Cox and Victory Capital to run a total of $50 million in active domestic large-cap equities, said Tim C. Rutledge, senior consultant at Wurts & Associates, the $158 million plan's investment consultant.
Quest will run $20 million in growth equities; Dodge & Cox will handle $16 million in value; and Victory, $14 million in core, Mr. Rutledge said. Funding for the Quest portfolio came from the performance-based termination of a growth equity manager, he said. The bulk of the funding for the Dodge & Cox and Victory mandates came from two balanced managers; trustees wanted to use specialists, he said. He declined to provide further details.
Separately, in June trustees will discuss adding real estate equity, Mr. Rutledge said. Funding might come from reducing fixed income, he said, but details have not been determined. A decision to proceed with a possible search could take several months, he said.
The plan's current asset allocation is 55% equity and 45% fixed income.