Miami Beach (Fla.) Employees' Retirement Plan is considering adding allocations to unconstrained domestic fixed income and open-end real estate, said Rick Rivera, pension administrator.
The $452 million pension fund is currently conducting an asset allocation study, its first since the fall of 2007. Mr. Rivera said the study is being conducted primarily because it had been so long since the previous study.
Mr. Rivera said in a telephone interview that while the study is routine, the pension fund is considering adding open-end real estate and also might move out of core fixed income and into unconstrained fixed income. Mr. Rivera said it is too early to tell whether any RFPs would be issued as a result of potential changes in the pension fund's asset allocation.
Investment consultant Milliman is scheduled to present the findings of the study at the Nov. 12 board of trustees meeting.
