Louisiana Parochial Employees’ Retirement System, Baton Rouge, increased allocations to fixed income and alternatives while decreasing its allocation to public equities, said Troy Searles, chief investment officer.
The $3.5 billion pension fund conducted an asset-liability study last year following the hiring of Mr. Searles as CIO in July 2014.
The pension fund’s board on March 10 approved increasing fixed income to 34% from 28% and alternatives to 15% from 11%. Public equities dropped to 51% from 61%.
Mr. Searles said he is in the preliminary stages of presenting a multiyear plan to the board for adopting the new asset mix. No searches, hires or terminations are currently scheduled. The board is next scheduled to meet on June 23.
Investment consultant Segal Rogerscasey is assisting.