Okla. Firefighters Cut Alts. Targets

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.

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