Public Employees Retirement Association of Colorado, Denver, raised...

Public Employees Retirement Association of Colorado, Denver, raised its alternatives target to 10% of total assets from 8% and cut its fixed-income target to 8% from 10%, said Don Schaefer, spokesman for the $31 billion system. No new managers will be hired because the fund already has 11.1% of assets committed to alternatives. The changes, part of an annual review of the system’s targets, also include creating a separate class for timberland, which will remain in the alternatives portfolio with a target of 2% of total assets. The other targets are unchanged: international bonds, 2%; domestic equities, 55%; international equities, 17%; and real estate, 8%.