Manchester (N.H.) Employees’ Contributory Retirement System is conducting an asset-liability study, said Gerard Fleury, executive director.
The $204 million pension fund is conducting the study due to a combination of the pension fund not reaching its return assumptions for 2014, along with new employee contributions no longer exceeding the monthly obligations to retirees.
Mr. Fleury said no specific asset class changes are being considered; he added the time frame is fluid but “in all probability” results should be presented to the pension fund’s board in June.
The pension fund’s current targets are 27% domestic equities, 22% fixed income, 15% alternatives, 14% international equities, 10% each global asset allocation and real estate/real assets and 2% cash.
As of Dec. 31, the actual allocation was 30.3% domestic equities, 21.4% fixed income, 13.8% international equities, 13.4% global asset allocation, 12% alternatives, 6.2% real estate/real assets and 2.9% cash.
Investment consultant NEPC is assisting.
