Oklahoma Firefighters Pension & Retirement System, Oklahoma City, made several changes to its target asset allocations, said Troy Brown, director of consulting at The Bogdahn Group, consultant to the $2.1 billion pension fund.
The pension fund increased its target allocation to domestic equity to 42% from 35%.
The target allocation for real estate was reduced to 10% from 14% and the target allocation to “other assets,” an asset class that includes areas such as private equity and diversified hedge funds, was reduced to 8% from 11%.
The rest of the target allocations were unchanged: 20% international equity; 8% domestic fixed income;, 7% global fixed income; and 5% “other fixed income,” which includes areas such as direct lending and low-volatility hedge funds of funds.
Mr. Brown said he does not anticipate the changes to result in any new searches or terminations.
