Friday, 26 August 2016
Last updated 9 hours ago
Jun 11 2014 | 8:46am ET
A $2.1 billion Oklahoma pension fund is cutting back on alternative investments.
The Oklahoma Firefighters Pension & Retirement System has slashed its target allocation to “other assets,” which includes hedge and private equity funds, from 11% to 8%, Pensions & Investments reports. The public pension fund also cut its allocation to real estate from 14% to 10%.
The freed-up money from both asset classes will go to an increased allocation to domestic equities, whose target is now 42%.
OFPRS’ other allocations, including to fixed-income hedge funds, were unchanged.
Troy Brown, a consultant to the pension, said that he did not expect the changes to result in any terminations.