As the COVID-19 pandemic continues, many U.S. pension funds are starting to assess their portfolios. The Employees’ Retirement System (ERS) of the state of Hawaii announced in May that it is planning to restructure some of its asset allocations to manage disruption caused by the crisis.
Investment officer Ian Wetzel reported that COVID-19 is impacting real estate markets and Hawaii ERS’ portfolio, according to the retirement system’s investment report. As of May, Wetzel was working with investment staff and consultants to revise the structure of the real return class and other real assets in Hawaii ERS’ portfolio.
As part of the restructuring, the pension fund is planning to combine the real assets in its portfolio. The real return risk class will be renamed real assets and moved to the broad growth risk class, doing away with a separate real return risk class.
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