The board of the $12 million Harbor Police Retirement System, New Orleans, is considering allocating about 8% of the fund's portfolio to alternatives, said Warner Tureaud, trustee. He said the board will likely decide around the first of the year whether to proceed and, if so, what kind of investments to pursue. Fund officials have not determined whether they will issue an RFP. Funding would come from reductions to active domestic fixed income, although no managers would be terminated. The fund's asset allocation is roughly 65% equity and 35% fixed income.
Consulting Services Group, the fund's investment consultant, will assist if the board decides to add the allocation.
