Fort Lauderdale (Fla.) General Employees’ Retirement System is conducting an asset allocation study, said David Desmond, the pension fund’s administrator.
The $619 million pension fund has not conducted an asset allocation study since 2012, and the board of trustees at its meeting Thursday voted to conduct a new one primarily for due diligence. No specific asset allocation changes are yet being considered.
Investment consultant Dahab Associates is expected to provide the results of the study at the Aug. 6 board meeting.
As of March 31, the actual asset allocation was 29.1% domestic growth equities, 27.2% domestic value equities, 14.9% international equities, 12.4% emerging markets equities, 10.8% fixed income, and 5.6% real estate and timber.
The targets allocation is 25% each domestic growth equities and domestic value equities; 15% each international equities and fixed income; 12% emerging markets equities; 5% real estate and timber; and 3% cash.