Ann Arundel (Md.) Retirement System, with $550 million in assets, is conducting an asset allocation study that should be finished by year end. The booming domestic stock market prompted the fund to conduct the review, which will look at possibly adding managers, said Al Warfield, assistant financial officer. If the fund does hire managers, it would be the first time in two years that the manager line-up has changed.
Mercer is assisting.