Advisory Council of the State Board of Administration of Florida endorsed a new allocation model for the $725 million Lawton Chiles Endowment Fund, said Tom Herndon, executive director of the $102 billion system, which manages the tobacco litigation proceeds fund. The new allocation is 57% domestic equities, 12% international equities, 5% domestic inflation-indexed bonds, 4% real estate, 21% fixed income and 1% cash. The Council also allowed trustees to recommend that the legislature repeal its investment policy on Northern Ireland. The system currently is allowed to invest only in companies that support the MacBride principles, but because of the peace agreement, such restrictions are no longer necessary, Mr. Herndon said. The advisory council also is looking at the systems current cash flow. Last year, the legislature reduced the amount of contributions by one-third, or $1.1 billion, because the pension fund was overfunded. But it now appears that at some point contributions will need to be increased again to meet liability requirements, Mr. Herndon said.