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Illinois retirement approves new strategic asset allocation targets
Investors - FEBRUARY 26, 2024

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Illinois retirement approves new strategic asset allocation targets

by Lewis Dayton

The Illinois Municipal Retirement Fund (IMRF) has approved its strategic asset allocation targets as of Jan. 1, 2024, with a 10.5 percent target for private real assets.

As of Sept. 30, 2023, 10 percent ($4.868 billion) of IMRF’s $48.922 billion portfolio was allocated toward private real assets.

Private real assets generated a -3.43 percent return in 2023 for IMRF, with real estate returning -4.15 percent, agriculture -8.09 percent, timberland 26.14 percent and unlisted infrastructure 16.38 percent.

The new strategic asset allocation approved by the IMRF Board drops the target for U.S. equity holdings down from 34.5 percent to 33.5 percent and raises the alternative investments target from 11.5 percent to 12.5 percent.

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