Sonoma County Employees' Retirement Association, Santa Rosa, Calif., is conducting an asset-liability study, said Stephen Marsh, investment analyst.
Officials at the $2.2 billion pension fund conduct a study every three years, Mr. Marsh said. No potential new asset classes or changes to existing asset classes are being considered at this time.
Investment consultant Hewitt EnnisKnupp will present the findings at the pension fund's July 9 board meeting.
Sonoma County's target allocation is 30% domestic equities, 17% international equities, 14% domestic core-plus fixed income, 10% each in core real estate and global equities, 8% global asset allocation, 6% alternative fixed income and 5% farmland.
As of May 31, the actual allocation was 30% domestic equities, 17.2% international equities, 13.3% domestic core-plus fixed income, 10.9% core real estate, 10% global equities, 7.9% global asset allocation, 5.8% alternative fixed income, 4.8% farmland and 0.1% cash.