The Santa Barbara County (Calif.) Employees’ Retirement System has boosted its allocations to equities, real estate and real return and lowered allocations to fixed income in a new three-year evolving asset allocation policy, Pensions & Investments reports. Allocations to global equity have been increased four percentage points to 59 percent, private equity three percentage points to 8 percent and real estate four percentage points to 8 percent.
Real-return allocations have been boosted five percentage points to 9 percent, and fixed-income halved to 15 percent from 30 percent and cash to 1 percent from 2 percent. The MSCI ACW Investible Market index was adopted by the retirement system’s board for its global equity to set its global equity weightings. Meanwhile, the $1.89 billion system has picked PCA to help search for a transaction cost analysis services provider.
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