Hawaii Employees Retirement System, Honolulu, will undergo a comprehensive asset-liability study, said CIO Rod June. The $8.5 billion funds general investment consultant, Pension Consulting Alliance, recommended the study.
PCA will begin work on the study in the first quarter. Mr. June said he wasnt sure when it will be completed.
As of Sept. 30, the systems allocation was domestic equity, 39.5%; domestic fixed income, 20.3%; international equity, 15.3%; international fixed income, 11.2%; equity real estate, 8.9%; private equity, 3.3%; and timber, 1.5%.