Covington, Ga., hired Southeastern Advisory Services as the first investment consultant for its $48 million defined benefit plan, recently released city council meeting minutes showed.
The city issued an RFP in November for its first investment consultant to help the city "meet the defined benefit plan's fiduciary and administrative needs," said Asher B. Dozier, the city's assistant human resources director, at the time.
As of Sept. 30, the pension fund's actual allocation was 49.7% equities, 44.4% fixed income and 5.9% money market funds.
Mr. Dozier could not be immediately be reached for further information.
