San Mateo County Employees' Retirement Association, Redwood City, Calif., approved a new asset allocation policy, according to an announcement on the $4.3 billion pension fund's website.
The pension fund's new target allocation includes a 3 percentage point increase to growth equities and an 8 percentage point increase to diversification, with a corresponding 3 percentage point reduction to inflation hedge and 8 percentage point reduction to risk parity.
As of June 30, the fund's target allocation was 41% equities, 21% fixed income, 18% inflation hedge, 12% alternatives and 8% risk parity.
The revised allocation was approved at its October board meeting.
Michael Coultrip, chief investment officer, could not be immediately reached for additional information.
