Louisiana Baptist Foundation, Alexandria, with $98 million in assets, will allow for a 15% investment of its $72 million fixed-income portfolios assets in non-dollar bonds, said Wayne Taylor, executive director. Previously, the fund did not allow such investments. The move was made as a result of manage Payden & Rygels success in the asset class with other clients, said Mr. Taylor.
Also, the fund dropped its maximum allocation to government investing to 40% of all fixed-income assets. Mr. Taylor said the fund lowered the allowable allocation by 25 percentage points because the asset class is directly correlated to interest rates.