Oklahoma Public Employees Retirement System, Oklahoma City, adopted a new investment policy for its $1.8 billion in domestic equity assets, the result of an asset allocation study conducted earlier this year, said Kirk Stebbins, CIO.
Sixty percent of total domestic equity assets will be in Russell 3000 index funds; 22.6% will be in enhanced Russell 1000 index portfolios; and 17.4% will be divided among large-cap growth, large-cap value, small-cap growth and small-cap value portfolios. The previous domestic equity allocation was 70% passive, 20% active and 10% enhanced.
As a result, officials for the $4.3 billion pension plan moved the money from an $810 million S&P 500 index fund and a $180 million S&P 400 index fund run by Barclays Global Investors to a Russell 3000 index fund, also run by BGI, Mr. Stebbins said.
The plan's asset allocation is 58% equity and 42% fixed income. Strategic Investment Solutions is the consultant.