West Virginia Investment Management Board, Charleston, fine-tuned its asset allocation, said T.J. Carlson, CIO. The $5.3 billion system targeted 40% of its equity allocation to large-cap stocks, from 50%; 30% will go to domestic small-cap and midcap stocks, from 25%; and 30% to international stocks, from 25%, Mr. Carlson said.
It also targeted 60% of its fixed-income allocation to active management, up from 45%; 30% to a custom indexed portfolio, down from 45%; and 10% to a duration manager, a new allocation. The system's overall asset allocation remains at 60% equities, 40% fixed income, he said.
