Ohio Public Employees Retirement System, Columbus, adopted new target allocations, said Neil Toth, director of investments. The $56 billion plans domestic equity target will be 44% of total assets, up from 35%; international equities, 20%, up from 18%; and private equity will be added as a new asset class, at 4%. Mr. Toth said the plan expects better returns from private equity than domestic or international equities. Domestic fixed income will be cut to 23% from 35%; and real estate, to 9% from 11%. It also will drop a 1% cash target.
The plans domestic fixed-income portfolio is managed internally. Mr. Toth declined to comment on any potential manager changes.