City of Lincoln (Neb.) Police & Fire Pension committed $10 million to the J.P. Morgan Fleming Strategic Property Fund, said Paul Lutomski, pension officer. Funding will come from matured short-term agency discount notes. The $130 million pension plan did not use a consultant.
Separately, J.P. Morgan Private Bank and Smith Hayes Financial are conducting an asset allocation study that will be finished at the end of June, said Mr. Lutomski. Plan officials want to add new asset classes to the investment lineup. Manager terminations are not likely, he said. The plans current asset allocation is 59% fixed income, 30% equity, 8% real estate and 3% alternatives.