Oklahoma Tobacco Settlement Endowment Trust, Oklahoma City, decreased its equity allocation to 45% of assets from 55% and increased its fixed-income allocation to 45% from 35%, confirmed James Wilbanks, director of revenue and fiscal policy for state Treasurer Scott Meacham. The changes are designed to boost returns, he said. The assets will be reallocated to the fund’s existing managers.
The $323 million trust fund, which invests Oklahoma’s share of the National Tobacco Settlement, has the remaining 10% of its assets invested in a market-neutral hedge fund managed by Franklin Portfolio Associates.
New England Pension Consultants assisted.
