Bank of America Corp.’s $9 billion pension fund is standing pat on its asset allocation following a recent asset-liability study, said William D. Lee, senior vice president of retirement plan investments. The Charlotte, N.C.-based fund has 71% of total assets allocated to equities, including foreign stocks, private equity and real estate equity; and 29% allocated to fixed income as of September. "We looked at it and felt we had enough room to manage the plan and risk effectively under the current guidelines,” Mr. Lee said.
Towers Perrin assisted.