At its July 14 meeting, the board of the $2.1 billion Tacoma Employees' Retirement System (TERS) approved a $100 million allocation to a passive core property index fund managed by Investors Diversified Realty (IDR) and benchmarked against the NFI-ODCE index.
In 2019, TERS’ board adopted a long-term 10% strategic asset allocation to private core real estate, and the move completes that directive. The goal was to retain exposure to real estate while reducing TERS' public equity beta, according to Timothy Allen, retirement director, chief investment officer.
TERS has interim targets of . . .
Unlock this article instantly, along with the rest of our premium content and daily, weekly and monthly newsletters. We offer pay-as-you-go monthly subscriptions and discounted annual subscriptions with additional benefits: access to Alternatives Watch Research articles and our Annual Investor Compendium.