INVESTING/PORTFOLIO STRATEGIES

Spokane Employees doing asset allocation study

Spokane (Wash.) Employees’ Retirement System is conducting an asset allocation study, said Phillip Tencick, retirement director.

The $260 million pension fund launched the study at a special board meeting April 14. Mr. Tencick said the board hopes to complete the study by the end of June.

The study is the result of the rehiring of investment consultant Hyas Group late last year following an RFP process. Hyas is not looking at any specific asset classes, Mr. Tencick said. The pension fund does not issue RFPs for managers.

Current target allocations are 50% global equity, 15% global fixed income, 14% long/short equity and special opportunities, 10% absolute return, 6% real estate, 4% commodities and 1% cash.

The actual allocation as of Dec. 31 was 49.3% global equity, 15% long/short equity and special opportunities, 13.4% absolute return, 11.6% global fixed income, 6.9% real estate, 3.1% commodities, and 0.7% cash.