West Virginia Investment Management Board, Charleston, delayed accepting a recommendation by the investment staff to allocate 5% of total assets to alternatives, a new asset class for the $5.4 billion pension plan and workers compensation fund. The system also decided to wait until the 2002 legislative session before acting on a recommendation to increase its equity allocation to 70% from 60%, said T. J. Carlson, chief investment officer. The session begins today; the equity increase would require new legislation.
The current asset allocation is 60% equities, 40% fixed income.
