Police & Firemens Disability & Pension Fund of Ohio, Columbus, raised its target equity allocation to 77% of total assets from 65%. The $9.2 billion fund will increase its domestic equity allocation to 46% of total assets from 41%, and international equity to 17% from 10%.
Emerging market equity will be decreased to 3% from 5% of assets, and private equity will increase to 3% from 1%. The funds real estate allocation will remain at 8% of assets.
The more aggressive allocation is needed because of increasing pension and health-care liabilities, said Allen Procter, executive director.
No timetable has been established for implementing the changes.