Metropolitan St. Louis Sewer District Employees Pension Plan might search for managers to handle distressed debt or bank loan portfolios next year depending on the results of an asset allocation study scheduled for the fourth quarter, said Karl Tyminski, district secretary-treasurer.
Plan officials are considering adding hedge fund managers, as well as first-time allocations to private equity, portable alpha and infrastructure. The asset allocation as of June 30 was 19.8% core bonds, 18.3% U.S. large-cap stocks, 9.5% GTAA, 9.4% international stocks, 9% U.S. small-cap stocks, 8.6% global bonds, 5.9% market neutral, 5.4% real estate, 4.7% high-yield bonds, 4% absolute return, 3.1% emerging markets stocks and 2.3% cash.
NEPC was rehired Aug. 14 as investment consultant for both the $190 million defined benefit and the $30 million 457 plans. The firm was first hired in 2003. An RFP was issued in March in accordance with the districts purchasing policies, which require contracts to be rebid every five years.