Brentwood (Mo.) Police and Firefighters' Pension Plan hired Asset Consulting Group as its first investment consultant, confirmed Gina Jarvis, city finance director.
The $27 million pension fund issued an RFQ in February. Other finalists were Dahab Associates, Marquette Associates and Summit Strategies Group.
ACG is conducting an asset allocation study and revising the pension fund's investment policy. It will present a draft of the policy revision at the pension fund's June 25 board meeting.
Specific asset classes have not been discussed. Ms. Jarvis said in a telephone interview that as the pension fund's first investment consultant, ACG is “starting from scratch.”
As of Dec. 31, the pension fund had 55.8% of its assets in equities and 44.2% in fixed income.
