The West Virginia Trust Fund Inc. - which will receive $3.8 billion in pension assets on Monday from the now $5.4 billion West Virginia State Board of Investments - may be looking for a consultant soon to help educate the new board of trustees on investment options for the new fund. The trust fund was created in March to allow pension fund assets to be invested in equity vehicles. The State Board of Investments is restricted to certain fixed-income classes.
Craig Slaughter, executive director of the trust fund, said Monday's transfer will mostly involve a renaming of accounts. No manager searches are planned immediately; trustees recognize they need to be educated and that's why a consultant is needed. Mr. Slaughter said he hopes the consultant would be able to do an asset allocation study once trustees feel comfortable in their investment knowledge.