Shelby County Retirement System, Memphis, Tenn., will likely conduct a shortlist search this summer for a new alternatives manager, following an annual asset allocation study of the $804 million pension plan, said David Pontius, manager-pension investments. The plan is considering increasing its allocation to alternatives and reducing fixed income. Investment committee members will meet May 12 to discuss details of a new portfolio, and hedge funds of funds will be among the types of investments considered, he said. Committee members will present their recommendations at the full board meeting June 1, and fund officials expect to hire a manager by the end of the summer.
Consulting Services Group will assist.
The plan's current asset allocation is 60.7% domestic equity, 32.6% fixed income, 4.9% international equity, 1.5% venture capital and 0.3% cash.
