Eli Lilly & Co., Indianapolis, plans to triple its $2.2 billion U.S. pension fund's international allocation to 20% of equity assets, up from 7% to 8%. Alternative investments, including private equity and real estate, will be doubled to 15% of total assets from 7%.
Frederick Ruebeck, director of investments, said changes in the United States and abroad are part of a move toward a ``virtual pension fund'' perspective. The ultimate goal is to examine assets and liabilities worldwide and make ``decisions as if we had one asset pool,'' he said. Toward that end, some of Lilly's pension funds around the world have begun to share money managers.
