Milwaukee City Retirement Increases Targets to Fixed Income and Private Equity
Written by: Koncheng Moua, Director of Data Management and Strategy
The Employees’ Retirement System of the City of Milwaukee has approved a new target asset allocation mix that was recommended by Callan.
The new target asset allocation mix decreases Public Equity by 5% and reduces the target to Absolute Return by 3%.
The Core Fixed Income target was increased by 5.99% to 18.05% of the portfolio. High Yield was increased by 4.3%. And the private equity target was increased by 2%.
Approved Target Asset Allocation Mix:
- Public Equity: 39% (-5%)
- Core FI: 18.05% (+5.99%)
- High Yield: 9.94% (+4.3%)
- Real Assets: 13%
- Private Equity: 12% (+2%)
- Absolute Return: 7% (-3%)
- Cash 1%
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