Louisiana School Employees’ Retirement System, Baton Rouge, has added a 3% target allocation to international small-cap equities, according to recently released board meeting minutes.
The $1.7 billion retirement system is funding the new target by reducing its targets to international developed equities to 15% from 16% and emerging markets equities to 10% from 12%.
The previous targets had been approved by the board of trustees in December, the first time the pension fund had created an allocation to emerging markets equities.
Investment consultant Segal Rogerscasey assisted.
Christopher Saik, interim chief investment officer, did not return a phone call seeking further information by press time.