Angel Tree

Policy Asset Allocation Through Time


Plan Began Investing in equities

FYE 1999

100%
Conservative Fixed Income


Dollar cost averaged into equities to reduce market timing risk

2000

88%
Conservative Fixed Income
13%
Public Global Equity


Act 153 creates RSIC and allows up to 70% allocation to equities

2001

78%
Conservative Fixed Income
23%
Public Global Equity


2002

75%
Conservative Fixed Income
25%
Public Global Equity


2003

65%
Conservative Fixed Income
35%
Public Global Equity


2004

60%
Conservative Fixed Income
40%
Public Global Equity


2005

60%
Conservative Fixed Income
40%
Public Global Equity


2006

50%
Conservative Fixed Income
50%
Public Global Equity


2007

52%
Conservative Fixed Income
48%
Public Global Equity


Plan diversifies after state constitutional amendment allows for full diversification


2008

34%
Conservative Fixed Income
45%
Public Global Equity
1%
Private Equity
14%
Opportunistic
7%
Diversified Credit


2009

24%
Conservative Fixed Income
30%
Public Global Equity
7%
Private Equity
15%
Opportunistic
14%
Diversified Credit
10%
Real Assets


2010

24%
Conservative Fixed Income
30%
Public Global Equity
7%
Private Equity
15%
Opportunistic
14%
Diversified Credit
10%
Real Assets


Increase allocation to Private Equity

2011

23%
Conservative Fixed Income
30%
Public Global Equity
10%
Private Equity
15%
Opportunistic
14%
Diversified Credit
8%
Real Assets




2012

23%
Conservative Fixed Income
30%
Public Global Equity
10%
Private Equity
15%
Opportunistic
14%
Diversified Credit
8%
Real Assets


Increase allocation to Diversified Credit

2013

20%
Conservative Fixed Income
30%
Public Global Equity
9%
Private Equity
15%
Opportunistic
21%
Diversified Credit
6%
Real Assets


2014

15%
Conservative Fixed Income
31%
Public Global Equity
9%
Private Equity
18%
Opportunistic
19%
Diversified Credit
8%
Real Assets


2015

15%
Conservative Fixed Income
31%
Public Global Equity
9%
Private Equity
18%
Opportunistic
19%
Diversified Credit
8%
Real Assets


Increase allocation to Public Equity. Begin glide path to long term asset allocation (FYE 2019)

2016

12%
Conservative Fixed Income
34%
Public Global Equity
9%
Private Equity
20%
Opportunistic
18%
Diversified Credit
8%
Real Assets


2017

12%
Conservative Fixed Income
37%
Public Global Equity
8%
Private Equity
17%
Opportunistic
18%
Diversified Credit
8%
Real Assets


2018

12%
Conservative Fixed Income
38%
Public Global Equity
9%
Private Equity
13%
Opportunistic
18%
Diversified Credit
10%
Real Assets


2019

14%
Rate Sensitive
44%
Public Equity
7%
Private Equity
8%
Opportunistic
15%
Credit
12%
Real Assets

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