Wisconsin Electric Power Co., Milwaukee, doubled its exposure to international equity and officially dropped the real estate allocation of its defined benefit plan, following an asset/liability study.
The new allocation leaves the U.S. bond allocation unchanged at 30% of total assets and boosts stocks to 70%.
The equity allocation is split, with 50% in U.S. stocks and 20% international stocks. Previously, the $825 million fund had a 7% allocation to real estate, which already has been liquidated.
Officials are looking at the manager lineup and considering how to implement the new allocation.
It is not known whether there will be a search. Final decisions will be made early next year.