Ohio Highway Patrol Retirement System, Columbus, could make changes to its investment portfolio in an effort to reach its rate-of-return target, said Richard Curtis, executive director of the $700 million system. "Given the forecasted returns of the capital markets over the next three to five years, it does not look like we'll meet our target of 8%, so modifications to our asset allocation might be made," Mr. Curtis said. An asset allocation study of the $700 million system is nearly completed, but Mr. Curtis would not specify any asset classes the fund might move into, saying, "Our board is examining every asset class." Any changes would be implemented after the Dec. 3 board meeting.
The system's current asset allocation is 53% domestic equity, 21% fixed income, 14% international equity, 10% real estate and 2% cash and short-term investments. Callan Associates is assisting.