Ventura County (Calif.) Employees' Retirement Association is reviewing its asset allocation, said Henry Solis, chief financial officer of the $4.4 billion pension fund.
A possible recommendation would be to reduce its “high” equity exposure and create an exposure to global tactical asset allocation, said Allan C. Martin, partner at NEPC, investment consultant to the plan.
Ventura's current allocation is 54% equities, 24% fixed income, 12% alternatives and 10% other, which consists of risk parity and master limited partnerships.
In documents prepared for the pension fund's November meeting, NEPC recommended establishing a 6% allocation to GTAA and reducing the equity allocation by six percentage points.
NEPC plans to present a forecast on all asset classes at the end of January. If allocation changes need to be made, those recommendations could come in the first half of 2015, Mr. Martin said.