Kansas City (Mo.) Police Employees' Retirement Systems is increasing its targets to fixed income, hedge funds, real estate and commodities, confirmed James Pyle, pension systems manager.
The changes are a result of an asset allocation study by investment consultant R.V. Kuhns & Associates.
The target to fixed income is increasing to 31% from 28%; hedge funds, to 15% from 10%; real estate, to 10% from 6%; and commodities, to 5% from 4%.
Dropping are the targets to domestic equity, to 18% from 28%, and international equity, to 18% from 21%.
The private equity target remains at 3%.
Mr. Pyle said pension fund officials have yet to speak with managers about the changes and how they might be implemented.
The retirement system's two pension funds — the Police Retirement System of Kansas City and Civilian Employees' Retirement System of the Police Department of Kansas City — have combined assets of $865 million.