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Illinois SBI considers changes to asset mix

8 Jul 2014

chicagoThe Illinois State Board of Investment is reportedly reviewing its asset allocation targets to reduce volatility.

The decided to change it assets allocation  mix after lowering its assumed rate of return on investments to 7.25 per cent, said Pensions and Investments.

As at the end of May, Illinois SBI had asset allocation targets of five per cent for private equity, ten per cent for each real estate and hedge funds and 30 per cent and 20 per cent for domestic and international equity.

At that time, $633m or 4.31 per cent of its portfolio was invested in private equity, nearly $7.5bn or 51 per cent in both domestic and international equities and almost $1.4bn or 9.5 per cent in real estate.

In the year to end September Illinois’ portfolio returned 14.6 per cent, beating its target of 11.8 per cent.

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