VRS finds opps in RA, diversifying strategies and credit
The
$116.1bn Virginia fund disclosed allocations made in the last month.
The
$116.1bn Virginia fund disclosed allocations made in the last month.
The current consultant StepStone’s contract
will expire at the end of this year.
The CIO of $15bn San Bernardino
County Employees’ Retirement Association has incorporated new ways of
rebalancing his portfolio since joining the fund. In the past, he had always stayed away
from real assets. But as the market environment changes, so are his sentiments.
The $6.9
billion pension fund has made new commitments in real assets, real estate and
private capital and terminated public equity and long short equity managers, as
disclosed in its recent meeting.
The $501.39 system has repositioned its portfolios to benefit from non-core RA strategies. Core strategies exceed return benchmarks.
CIO Andrew Palmer is focused on
opportunistic and value add strategies as he plans to grow his infrastructure
sleeve
Program’s private equity program reports a loss, leads to restatement of year-end numbers .
Currently comprising 5.4% of the portfolio, it can be
expanded to 10% over the next 10 years.
SFERS is enduring a tough 2022, thanks to steep
declines in public markets and fixed income portfolios.
CIO Ronald Schmitz also expects private equity returns
to be a bit stronger than hoped.