Louisiana Parochial Employees’ Retirement System, Baton Rouge, increased its target allocation to fixed income and lowered its target to equities following an asset-liability study.
The $5.3 billion pension fund’s board approved the changes at its June 18 meeting, recently released meeting minutes show.
The target to fixed income was raised to 36.5% from 33%, while the target to equities was lowered to 47.5% from 51%. The target of 16% to alternatives remains unchanged.
Investment consultant Segal Marco Advisors conducted the study, and had recommended two different potential portfolios, one with less volatility with fixed income raised to 40% and equities dropped to 44%, and the mid-volatility portfolio ultimately selected by the board.
An actual allocation was not available on the pension fund’s website. Christopher Burke, chief investment officer, could not be immediately reached for further information.
