Investors - FEBRUARY 12, 2015

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Alaska to expand REIT capability

by Reg Clodfelter

The Alaska Retirement Management Board, which manages $52.2 billion on behalf of the state of Alaska, has amended its investment policy to allow it more room to invest in REITs, according to recently released board minutes.

The new plan allows for up to 30 percent of the board’s $1.7 billion real estate portfolio to be invested in public real estate, up from the previous limit of 20 percent, allowing for up to $170 million in additional REIT investments.

REITs have performed spectacularly of late, with the FTSE NAREIT All Equity REITs index returning 28.03 percent in 2014 — outperforming the 2014 results of the S&P 500 Index (11.81 percent) and the Alerian MLP Index (4.8 percent) — and continuing its

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