The $3.7 billion Idaho Public Employee Retirement System, Boise, increased international equity to 15% of assets from 12%, and reduced fixed-income to 30% from 33%. The changes resulted from an asset allocation study.
CIO Robert Maynard said the new allocations to non-U.S. equities will be shared equally with existing managers: BEA for emerging markets; Schroder, TCW and Rowe Price-Fleming for broad international equities accounts; and Mellon for indexing.
In addition, the fund folded real estate into U.S. equities, creating a U.S. equity allocation of 54%, up from 48%. Real estate was targeted at 6% of assets, but in reality was 4%. The fund also allocated 1% to cash.
