Austin (Texas) City Employees' Retirement System is conducting an asset-liability study, confirmed Kirk Stebbins, chief investment officer.
The $1.8 billion retirement system conducts an asset-liability study every four years, Mr. Stebbins said in an e-mail.
Investment consultant Summit Strategies Group is expected to present the completed study “later this summer,” Mr. Stebbins said. No decisions on changes to the current asset allocation are expected before “late in the fourth quarter.”
The retirement system's current asset allocation is 34.1% domestic equity; 31.2% international equity; 27.8% domestic fixed income; 6.7% real estate; and 0.2% cash.