Pension funds raise information technology, communication services sector weights

Pension funds had a 31.5% equity allocation to the information technology sector as of June 30, according to data provided by Bloomberg based on 57 funds. That compares with 32.4% for the S&P 500 index. Financials’ 9.5% weight was 290 basis points less than the index.

Real estate was overweight by 2 percentage points, 4.2% vs. 2.2%.

Pension funds increased their allocation to information technology, by 270 basis points to 31.5%, since year-end. They also raised their weight to the communication services sector by 80 basis points to 9.3%. Notable decreases were in the healthcare, consumer discretionary and real estate sectors.