Montana Board of Investments, Helena, will review the results of an asset allocation study conducted by its investment consultant, RVK.
Per the study, RVK and its chief investment officer, Jon Putnam, are recommending these asset allocation changes: increase its international equities target to 17% (from 16%); increase private investments to 15% (from 14%); reclassify natural resources as real assets and increase real assets to 5% (from 4%); increase non-core fixed income to 6% (from 5%); and increase cash to 3% (from 2%).
RVK and Mr. Putnam are also recommending the board reduce its core fixed-income target to 15% (from 20%).
The board will review the results and vote on the new asset allocation at its Tuesday meeting.
The board oversees about $11.9 billion in assets for nine state pension funds.
