Knights of Columbus Supreme Council, New Haven, Conn., added two new asset classes, allocating 10% each to preferred equities and real estate, for the three pension plans it oversees, said Charles Walden, CIO. The plans, with a total $165 million in assets, already invest in preferred equities, but it had not been designated as a separate asset class. Real estate manager searches may be considered, he added. The council cut the plans fixed-income allocation to 30% of total assets from 45%, and equities to 50% from 55%.
Separately, the council is conducting a shortlist search for one or two core fixed-income managers to run a total of $49 million, Mr. Walden said. The money had been managed internally. The board will interview five managers and make a selection in about two months, Mr. Walden said.
Evaluation Associates is consultant.