This panel is expected to meet today to start the review of all the RFP responses.
Right now, the Fund has nine money managers.
Fund Chairman Sixto Igisomar told reporters after the board meeting that they may have fewer or more money managers because once the selection process starts, the ad-hoc committee will look at different types of services that the interested money managers companies can offer.
“We are looking at the cost, the type of management that they have, the type of experience, the type of owners,” he said.
The review, he added, may take a month or two but it all depends on how quick the ad-hoc committee will complete the selection process.
The board of trustees had to go on an executive session, or closed-door meeting, to discuss that matter via tele-conference, with Maggie Ralbovsky, the managing director of the Fund’s investment consultant, Wilshire Associates.
The current asset allocation, Igisomar said, divides the pension agency’s funds into equities, fixed incomes and alternative investments.
He said the new asset allocation is a reassessment of such a model and aims to make it more comfortable by adjusting the structure that they believe fits today’s trends.
“It’s all about allocation or all about spreading your risks,” Igisomar said.
