Orange County Employees Retirement System, Santa Ana, Calif., allocated $400 million to Treasury inflation-protected securities as an inflation hedge, said Keith Bozarth, CEO of the $5 billion fund. The funding came from cash. The money will be run by existing managers, Mr. Bozarth said.
The board is expected to consider whether to reduce the fund's overall exposure to fixed income, currently at 34%, in the next couple of months, he said.
Callan Associates is the fund's consultant. Additional information wasn't available.
