The Tennessee Valley Authority Retirement System has made adjustments to their fixed income allocation, according to meeting minutes.
Under the new allocation policy, Long Duration Fixed Income has an increased target from 7.5% to 12%, the Defensive Equity target is being decreased from 7.5% to 4%, the Core fixed income target is being increased from 10% to 16%, and the Treasury Inflation Protection Securities (TIPS) target is being decreased from 10% to 5%.
Additionally, the Loomis Sayles Core Disciplined Alpha Strategy was added to the portfolio with a mandate size of $450 million. The portfolio’s existing managers include TCW, WAMCO, and PGIM.
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