Oklahoma Public Employees Retirement System, Oklahoma City, approved a new asset allocation as a result of the current low-yield environment, said Tom Spencer, executive director.
The new allocation is 44% domestic equity, 32% domestic fixed income and 24% international equity. The domestic equity allocation is 38% large cap and 6% small cap, up from 35% and 5%, respectively.
The previous allocation was 40% domestic equity, 36% domestic fixed income and 24% international equity.
Mr. Spencer said the change will not result in any new manager hiring or firings. Little rebalancing is needed because of recent market movements, he added.