Ohio Highway Patrol Retirement System, Columbus, on Thursday approved increasing the $762 million system’s target allocations to international equity, alternatives and fixed income, confirmed Dan Weiss, executive director and chief investment officer.
Targets to fixed income and alternatives will each rise to 22.5% from 20%; and international equity will increase to 20% from 15%.
The target to U.S. equity will drop to 35% from 45%. No managers are expected to be terminated, according to Mr. Weiss.
As part of the fixed-income increase, the system announced finalists in a search for a global fixed-income manager to run $35 million. Loomis Sayles, Baring Asset Management and Wellington Management will make presentations to the board on July 28, according to Mr. Weiss. Funding will come from U.S. equities. No other searches are planned, Mr. Weiss said.