The $3.19 billion Dallas Police & Fire Pension System has approved a new asset allocation at its board meeting, according to pension documents. The new allocation includes an increase of the plan’s global asset allocation portfolio to 20 percent from 10 percent and the carve-out of a 10 percent infrastructure allocation.
Overall, the new allocation will target 15 percent each to global public equity, global fixed income, real estate and global private equity, 20 percent to global asset allocation and 10 percent each to global natural resources and infrastructure.
The new allocation will de-emphasize global public equity and better diversify the portfolio in order to generate higher returns.
The new infrastructure allocation will be created through a carve-out of the plan’s current 4 percent infrastructure portfolio that had been included in the plan’s private equity allocation.