World Bank pension fund, Washington, has increased its allocation to...

World Bank pension fund, Washington, has increased its allocation to domestic equities and cut back its exposure to foreign developed market stocks as part of a new asset allocation, which became effective Feb. 1. The $10 billion pension fund now has 35% of its assets in U.S. stocks, up from 30%; and 30% in foreign developed market equities, down from 34%. It also increased its exposure to global fixed income to 20% of total assets from 18%, and decreased its high-yield allocation to zero from 2%. The additional U.S. equity allocation went into Russell 3000 portfolios with existing managers Barclays Global Investors and State Street Global Advisors. No manager changes were made, said Afsaneh Mashayekhi Beschloss, treasurer. Separately, the fund hired Boston Partners as a domestic midcap manager to run $150 million to $160 million. The fund also is looking to increase its exposure to private equity, now around 4%.