Alabama Trust Fund, Montgomery, rehired Callan as investment consultant for the $3.8 billion sovereign wealth fund overseeing the state’s oil and gas royalties.
The trust fund’s board of directors approved the hiring at its Aug. 22 meeting, recently released meeting minutes showed.
The board issued an RFP in June. There were no finalist presentations.
As of June 30, the sovereign wealth fund’s actual allocation was 26% domestic large-cap equities, 24.9% international equities, 23.5% fixed income, 7.6% real estate, 7% domestic small-cap equities, 5.7% multiasset class investments and 5.3% hedge funds.
The target allocation is 25% each fixed income and international equities, 23% domestic large-cap equities, 10% real estate, 7% domestic small-cap equities, and 5% each hedge funds and multiasset class investments.
