Fresno Funds Consider New Allocations

August 4, 2008

The joint board of the City of Fresno Retirement Systems (CFRS)-which consists of officials overseeing the $1.07 billion Employees' Retirement System and the $1.19 billion Fire & Police Retirement System-recently considered recommendations that would drastically alter the asset allocation and manager roster for the plans. According to the agenda for its meeting last week, CFRS' investment committee brought recommendations before the board that would reduce the plan's domestic equities allocation by 10%, dropping it down to 30% of the plan's assets, while increasing CFRS' international equities allocation by 8% and its emerging markets allocation by 2%, bringing them up to 25% and 5%, respectively.

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