Denver Employees Retirement Plan approved a temporary exception to its fixed-income and MLP allocations being outside of their targeted ranges due to recent market volatility.
The plan's current allocation to fixed income is 30.7%, above its range maximum of 30.5%. Meanwhile, its current allocation to master limited partnerships is 4.8%, while the minimum of its range is 5%.
At its meeting Thursday, the board approved the temporary exception to these allocations being outside of their ranges, confirmed Randall Baum, chief investment officer of the $2.2 billion pension fund, in an email.
The board plans to gradually rebalance its portfolio to resolve this issue.