San Mateo County Employees' Retirement Association, Redwood City Calif., rehired Verus Advisory as its general investment consultant, pending successful contract negotiations, said an announcement on the $3.8 billion pension fund's website.
An RFP was issued in January. The reason for the search could not be learned by press time.
Separately, the pension fund returned a net 12.6% for the fiscal year ended June 30, matching its policy benchmark.
Public equity returned 18.6%; alternatives, 17.1%; fixed income, 7.2%; inflation hedge, 5.9%; and risk parity, 4.1%.
As of June 30, the pension fund had an asset allocation of 24.2% U.S. equity, 22.3% fixed income, 19.4% international equity, 7.3% risk parity, 6.6% real estate, 6.3% private equity, 5.7% hedge funds, 4.7% liquid pool, 1.8% treasury inflation-protected securities, 1.3% private real assets, and the remainder in cash.
For the three, five and 10 years ended June 30, the pension fund returned an annualized 5.5%, 9.4% and 4.6%, respectively, vs. it benchmark returns of 5.3%, 9.2% and 5.5% in each of those periods.
Michael Coultrip, the retirement system's chief investment officer, could not immediately be reached for additional information.
