Webster increases real estate allocation
Webster (Mass.) Retirement System is looking for at least one manager to run a total of $1.8 million in core or value-added real estate. The $18 million system currently has less than $1 million in real estate, said Gerry Wentworth, board administrator. The manager is being added for diversification, and the source of funding is undetermined. Wainwright Investment Counsel is assisting. No timetable for a decision was given.