San Francisco Employees’ Retirement System (SFERS) is planning to lower its real assets allocation and raise its investment in listed shares to help increase the pension fund’s liquidity.
The $26bn pension fund said in a meeting document that as part of a review, it intends to cut real assets to 12% from 17% and increasing the investment to publicly traded securities from 55% to 60%.
The pension fund’s real assets portfolio targets a mixture of real estate, infrastructure and natural resources mostly via funds and some co-investments.
The proposed allocation is part of an asset-liability review SFERS conducts every three years with general consultant NEPC to help improve financial outcomes.
To read the digital edition of the latest IPE Real Assets magazine click here.
No comments yet