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.

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