© 2024 Arizent. All rights reserved.

Fresno County Allocates to TALF

The Fresno County Employees' Retirement Association (FCERA) has become the latest pension fund to make an allocation to Term Asset-Backed Securities Loan Facility (TALF) strategies.

Last week, Jeffrey MacLean of Wurts & Associates recommended a 4% allocation to TALF to be managed by PIMCO. The funding for the allocation was to come from FCERA's 9% hedge fund target, dropping that allocation to 5%.

Roberto Pena, administrator of the $2.5 billion California plan, said the board approved MacLean's recommendations, but actually made a 5% allocation to TALF strategies, in turn trimming the hedge fund allocation to 4%.

Other systems that have expressed interest in TALF strategies are the Weymouth Retirement System and the Town of Plymouth Retirement System. Both plans are based in Massachusetts.

For reprint and licensing requests for this article, click here.
ABS
MORE FROM ASSET SECURITIZATION REPORT