Construction Laborers Pension Trust for Southern California, El Monte, raised its equity allocation to 50% from 45%, said Robert Glaza, administrator. Funding will come from the $1.2 billion funds fixed-income portfolio, which will have its target dropped to 35%. The funds 15% real estate target remains the same.
The fund wants a higher equity exposure, said Mr. Glaza, citing the growth the fund saw after it raised its equity allocation a few years ago. No manager changes are planned.