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People - FEBRUARY 14, 2018

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MCERA hires new investment consultant

by Jody Barhanovich

The $750 million Merced County (Calif.) Employees’ Retirement Association has hired Meketa Investment Group as investment consultant, pending contract negotiations, according to Kristen Santos, retirement plan administrator.

The pension fund posted an RFP in November 2017 due to the fact that the contract with current consultant, Verus Advisory, is pending expiration in March 2018.

The contract with Meketa is a three-year full-service contract.

As of Sept. 30, 2017, MCERA’s target asset allocations in its portfolio consisted of 27 percent U.S. equities, 16 percent international equities, 9 percent private equity, 8 percent real estate and 6 percent real assets, according to a report. The actual allocations are 31.1 percent U.S. equities, 18.4 percent international equities, 4.6 percent private equity, 7.1 percent real estate and 6.3 percent real assets.

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