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.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...