Skip to main content
MENU
Subscribe
  • Sign Up Free
  • LOGIN
  • Subscribe
  • Topics
    • Alternatives
    • Artificial Intelligence
    • Consultants
    • Defined Contribution
    • ESG
    • ETFs
    • Face to Face
    • Hedge Funds
    • Industry Voices
    • Investing
    • Money Management
    • Partner Content
    • Pension Funds
    • Private Equity
    • Real Estate
    • Regulation
    • SECURE 2.0
    • Special Reports
    • Washington
    • White Papers
  • Rankings & Awards
    • 1,000 Largest Retirement Plans
    • Top-Performing Managers
    • Largest Money Managers
    • DC Money Managers
    • DC Record Keepers
    • Largest Hedge Fund Managers
    • World's Largest Retirement Funds
    • Best Places to Work in Money Management
    • Excellence & Innovation Awards
    • WPS Innovation Awards
    • Influential Women in Institutional Investing 2023
    • Eddy Awards
  • ETFs
    • Latest ETF News
    • Fund Screener
    • Education Center
    • Equities
    • Fixed Income
    • Commodities
    • Actively Managed
    • Alternatives
    • ESG Rated
  • ESG
    • Latest ESG News
    • The Institutional Investor’s Guide to ESG Investing
    • ESG Sustainability - Gaining Momentum
    • ESG Investing | Industry Brief
    • Innovation in ESG Investing
    • 2023 ESG Investing Conference
    • ESG Rated ETFs
    • Divestment Database
  • Defined Contribution
    • Latest DC News
    • The Plan Sponsor's Guide to Retirement Income
    • DC Money Manager Rankings
    • DC Record Keeper Rankings
    • Innovations in DC
    • DC Plan Design: Improving Participant Outcomes
    • 2023 Defined Contribution East Conference
  • Searches & Hires
    • Latest Searches & Hires News
    • Searches & Hires Database
    • RFPs
  • Research Center
    • The P&I Research Center
    • Earnings Tracker
    • Endowment Returns Tracker
    • Corporate Pension Contribution Tracker
    • Pension Fund Returns Tracker
    • Pension Risk Transfer Database
  • Careers
  • Events
    • View All Conferences
    • View All Webinars
  • Print
Breadcrumb
  1. Home
  2. PENSION FUNDS
December 14, 2021 09:32 AM

Fresno County ups equity, real assets in new allocation

Rob Kozlowski
  • Tweet
  • Share
  • Share
  • Email
  • More
    fresno_sign_1550-main_i.jpg
    Getty Images/iStockphoto

    Fresno County (Calif.) Employees' Retirement Association approved a new asset allocation that includes increases in targets to public equities, private equity and real assets.

    The $6.2 billion pension fund's board approved the new targets at its Dec. 1 meeting, said Douglas Kidd, investment officer.

    The target to domestic equities was increased to 29% from 28%, and within the asset class the large-cap target was increased to 23% of the overall pension fund's assets from 22.5% and the small-cap target increased to 6% from 5.5%.

    Related Article
    Fresno County fund posts 25.5% return for year

    The overall international equity target remains unchanged at 21%, but within the asset class, the 3% target to international developed markets small-cap equities was eliminated, and the targets to international developed markets increased to 15% from 12.5% and emerging markets to 6% from 5.5%.

    The target to total fixed income was dropped to 22% from 26%. Within the asset class, the target to multistrategy credit was increased to 8% from 4%, while the target to core fixed income was dropped to 12% from 15%, the 4% target to global sovereign ex-U.S. fixed income was eliminated, and emerging markets debt (local currency) was dropped to 2% from 3%.

    The overall target to alternatives was increased to 16% from 14%. The asset class is made up of private equity (raised to 8% of the total pension fund from 6%) and private credit (unchanged at 8%), and the overall target to real assets was increased to 12% from 11%. Within that asset class, the target to value-added and opportunistic real estate was raised to 4% from 3% while the targets to core real estate and infrastructure remain unchanged at 4%.

    FCERA staff has prepared an implementation plan for approval at the next board of trustees meeting on Wednesday, Mr. Kidd said.

    "Since this will take quite a bit of time and several steps, there will be several points of consultation with the board to make sure they are OK with the implementation of their vision," Mr. Kidd said. "Some changes, such as with real estate and private equity may even take years to achieve."

    As of Sept. 30, the actual allocation was 27.8% domestic equities, 27.1% global fixed income, 20.3% international equities, 7.4% private credit, 6.5% private equity, 4.8% real estate, 3.3% infrastructure, 1.5% cash and equivalents, and the rest in other.

    Related Articles
    Fresno County Employees moves $22 million between Eaton Vance funds
    Fresno County Employees ups infrastructure allocation by $50 million
    Recommended for You
    Generic_Firemen_i.jpg
    Chicago Firemen pension fund puts Brown Capital on watch
    Louisiana_State_Capitol_i.jpg
    Louisiana State Employees pulls Mondrian from international equity portfolio
    ibm_giant_logo_1550-main_i.jpg
    IBM unveils details of retirement benefit account
    Open Window of Opportunity in Real Estate
    Sponsored Content: Open Window of Opportunity in Real Estate
    Sponsored
    White Papers
    A Guide to Home Equity Investments: The Untapped Real Estate Asset Class
    Modernize your K-12 retirement plan with vendor consolidation
    Q4 2023 Credit Outlook: Price Is What You Pay, Value Is What You Get
    There's More Than One Way to Be a Climate Investor
    Exploring the Commercial Application of Artificial Intelligence
    Private Credit Insights: Every Problem Is an Opportunity in Disguise
    View More
    Sponsored Content
    Partner Content
    The Industrialization of ESG Investment
    For institutional investors, ETFs can make meeting liquidity needs easier
    Gold: the most effective commodity investment
    2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios
    Ten ways retirement plan professionals add value to plan sponsors
    Gold: an efficient hedge
    View More
    E-MAIL NEWSLETTERS

    Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    Subscribe Today
    October 23, 2023 page one

    Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.

    Subscribe
    Connect With Us
    • RSS
    • Twitter
    • Facebook
    • LinkedIn

    Our Mission

    To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.

    About Us

    Main Office
    685 Third Avenue
    Tenth Floor
    New York, NY 10017-4036

    Chicago Office
    130 E. Randolph St.
    Suite 3200
    Chicago, IL 60601

    Contact Us

    Careers at Crain

    About Pensions & Investments

     

    Advertising
    • Media Kit
    • P&I Custom Content
    • P&I Careers | Post a Job
    • Reprints & Permissions
    Resources
    • Subscribe
    • Newsletters
    • FAQ
    • P&I Research Center
    • Site map
    • Staff Directory
    Legal
    • Privacy Policy
    • Terms and Conditions
    • Privacy Request
    Pensions & Investments
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • Topics
      • Alternatives
      • Artificial Intelligence
      • Consultants
      • Defined Contribution
      • ESG
      • ETFs
      • Face to Face
      • Hedge Funds
      • Industry Voices
      • Investing
      • Money Management
      • Partner Content
      • Pension Funds
      • Private Equity
      • Real Estate
      • Regulation
      • SECURE 2.0
      • Special Reports
      • Washington
      • White Papers
    • Rankings & Awards
      • 1,000 Largest Retirement Plans
      • Top-Performing Managers
      • Largest Money Managers
      • DC Money Managers
      • DC Record Keepers
      • Largest Hedge Fund Managers
      • World's Largest Retirement Funds
      • Best Places to Work in Money Management
      • Excellence & Innovation Awards
      • WPS Innovation Awards
      • Influential Women in Institutional Investing 2023
      • Eddy Awards
    • ETFs
      • Latest ETF News
      • Fund Screener
      • Education Center
      • Equities
      • Fixed Income
      • Commodities
      • Actively Managed
      • Alternatives
      • ESG Rated
    • ESG
      • Latest ESG News
      • The Institutional Investor’s Guide to ESG Investing
      • ESG Sustainability - Gaining Momentum
      • ESG Investing | Industry Brief
      • Innovation in ESG Investing
      • 2023 ESG Investing Conference
      • ESG Rated ETFs
      • Divestment Database
    • Defined Contribution
      • Latest DC News
      • The Plan Sponsor's Guide to Retirement Income
      • DC Money Manager Rankings
      • DC Record Keeper Rankings
      • Innovations in DC
      • DC Plan Design: Improving Participant Outcomes
      • 2023 Defined Contribution East Conference
    • Searches & Hires
      • Latest Searches & Hires News
      • Searches & Hires Database
      • RFPs
    • Research Center
      • The P&I Research Center
      • Earnings Tracker
      • Endowment Returns Tracker
      • Corporate Pension Contribution Tracker
      • Pension Fund Returns Tracker
      • Pension Risk Transfer Database
    • Careers
    • Events
      • View All Conferences
      • View All Webinars
    • Print