Louisiana Clerks of Court Retirement and Relief Fund, Baton Rouge, might add real estate as a new asset class for the $200 million pension plan, said Charlotte Massey, executive secretary. Plan officials want to diversify and increase returns, Ms. Massey said. The size of any allocation and the funding source have not been determined, she said. Summit Strategies is assisting.
Separately, the plan terminated Alliance Capital, which ran an active domestic fixed-income portfolio, Ms. Massey said. The plan moved the money to an existing passive bond portfolio run by Northern Trust, now worth $69 million, she said. Plan officials intend to move back into actively managed bonds once the market improves, she said. John Meyers, Alliance spokesman, declined to comment.
The plan's asset allocation is 46% domestic equity, 43% fixed income and 11% international equity.