Victor J. Raskin was named chief investment officer at the YMCA Retirement Fund, New York, a new position, said John Carney, spokesman at the $3.6 billion fund. Mr. Raskin was senior equity portfolio manager for Nicholas-Applegate. Rick Shaughnessy, spokesman at Nicholas-Applegate, said that its value program was restructured and that Mr. Raskin’s position was not filled.
The YMCA plans to raise its equity allocation to 60% of total assets from its current 55.2% by June, Mr. Carney said. Funding will come from a reduction in the fund’s U.S. fixed-income allocation, which will be cut to 43.3% of the fund from 50%, and from cash. The plan will keep U.S. equities at 30.2% of the total fund for large cap and 11.1% small cap, and raise international equities to 15% from 12.6% and alternative assets to 5% from 1.4%. The fund does not plan to issue an RFP.
