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Pension Funds

Intercontinental Exchange moves pension fund allocation to nearly all bonds

Asset allocation shift follows contribution to fully fund pension plan

Intercontinental Exchange Inc., Atlanta, disclosed in its 10-K filing with the Securities and Exchange Commission on Wednesday that it has overhauled the asset allocation of its frozen U.S. defined benefit plan as a result of its derisking strategy.

The company changed its asset allocation to 95% fixed income and 5% equities following a $136 million contribution in September that brought the plan to a funding ratio of 99%. The previous asset allocation was 65% equities and 35% fixed income.

"As a result of this contribution and change in investment policy, we anticipate that there will be less need for pension contributions in future years, and the pension plan will not be required to pay the Pension Benefit Guaranty Corp. variable rate premiums," the filing said.

As of Dec. 31, plan assets totaled $869 million, while projected benefit obligations totaled $875 million, for a funding ratio of 99.3%.

Kelly Loeffler, company spokeswoman, could not be immediately reached to provide further information.