Following the recommendation of its investment consultant Wilshire Associates, the School Employees Retirement System (SERS) of Ohio has approved a new asset allocation policy, bumping up its target allocation to global real assets by 2 percent. The portfolio, which includes real estate, currently has a 14.6 percent actual allocation and a 15 percent target.
The pension fund is doing away with its allocation to hedge funds, a portfolio which had a 10 percent target. The allocation will also be split between global equity (45 percent) and fixed income (19 percent). The global private equity class and cash will each see a 2 percent bump and a new asset class for private credit will be established with a 5 percent target allocation.
The transition from the current asset allocation to the new allocation is expected to take place over a two-year period. The new asset allocation will go in
