A Southern state plan is reducing its exposures to real estate and emerging markets equity to reduce volatility, while increasing the exposures to developed international and U.S. equity to add capital stability.
The pension fund committed up to $15 million total to two funds and also discussed a work plan for its traditional assets, opportunistic debt, real estate and hedge fund allocations at a meeting today.
A Texas-based pension plan opted for a new manager to fill its maiden emerging market debt allocation after significant changes at last month’s original selection.