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FCERA To Cut TIPS Allocation

The Fresno County Employees’ Retirement Association may sell Treasury inflation-protected securities.

The Fresno County Employees’ Retirement Association (FCERA) may sell Treasury inflation-protected securities (TIPS), Global Pensions reports. The allocation to TIPS by the $3 billion pension fund may be reduced from 4.3% to 3% and instead allocated to high-yield debt.

Wurts & Associates, the scheme’s general consultant, recommended that allocation to Loomis Sayles, one of the scheme’s two opportunistic fixed-income managers, be increased to 4% from 3.2%. FCERA approved a 2% allocation to TIPS in February 2009 and raised it to 4% in March 2011.

Click here for the story from Global Pensions.

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