Alameda (Calif.) County Employees' Retirement Association's investment...

Alameda (Calif.) County Employees’ Retirement Association’s investment committee asked consultant Dorn, Helliesen and Cottle, to update its current asset allocation by January. The review would examine the fund’s allocation to emerging markets, putting on hold a potential manager search. According to a summary of the committee’s Oct. 13 meeting, board members David Safer and Charles Harrington said they preferred using the $3.5 billion fund’s international portfolio to implement a position in emerging market equities, rather than have emerging markets as a separate asset class. The fund has a target of 20% to international equities and 3% to emerging markets. Betty Tse, investment officer for the $3.5 billion fund, also asked the investment committee to keep Global Asset Management on probation for three months, according to the summary.