CINCINNATI — The Cincinnati Retirement System hired Allegiant Asset Management to handle a $225 million enhanced S&P 500 index portfolio and switched its $225 million active domestic large-cap core portfolio being managed by PanAgora Asset Management to an enhanced Russell 3000 index account, said John Boudinot, executive director for the $2 billion fund.
Fund officials decided to add the new portfolios to reduce the overall fund volatility, Mr. Boudinot said. Funding for the enhanced S&P account came from reducing the portfolios of several current active domestic equity managers. He declined to identify them because they have not yet been notified. Cincinnati chooses finalists for general consultant post
System officials also picked four finalists in its search for a general investment consultant, Mr. Boudinot said. They are Pension Consulting Alliance, Wilshire Associates, Marquette Associates and Ennis Knupp + Associates. Incumbent Smith Barney, which has been the fund's general investment consultant since 1997, declined to participate, Mr. Boudinot said.
The finalists will be interviewed at the fund's Nov. 6 board meeting.