St. Louis Employees' Retirement System hired Marquette Associates as investment consultant, said Rich Olliges, accounting officer.
The $819 million pension fund issued an RFP in August because the pension fund's incumbent consultant, Summit Strategies Group, had announced that month that its public pension fund business was going to be purchased by AndCo Consulting. Since the completion of the purchase in October, AndCo has been the pension fund's interim investment consultant.
AndCo Consulting was a finalist along with Asset Consulting Group and Gavion.
As of June 30, 2018, the most recent data available, the pension fund's actual allocation was 26.3% international equities, 21% fixed income, 20.7% domestic large-cap equities, 10.7% real estate, 9.7% hedge funds, 5.5% each master limited partnerships and domestic non-large-cap equities, and 0.6% cash.
Targets are 25% fixed income, 24% international equities, 19% domestic large-cap equities, 10% each hedge funds and real estate, 7.5% MLPs and 4.5% domestic non-large-cap equities.
