US - The Ohio Public Employees Retirement System (OPERS) has received a recommendation to allocate 5% to private equity in its healthcare fund.
In making the recommendation, Mercer said transitioning from the current to the recommended investment strategy was projected to take around seven years, assuming implementation began in 2008.
In the interim, while private equity commitments were being funded, Mercer said the remainder of the target allocation to private equity should be held in US equity.
The recommendation came after the organisation’s investment committee decided in July to shift to a strategic asset allocation incorporating a 60% equity plus alternatives and a 40% fixed income mix would be appropriate for the US$13.1bn healthcare portfolio.
In May 2007, Global Pensions reported that OPERS ditched Ennis Knupp & Associates as its consultant in favour of Mercer.
This week's edition of Professional Pensions is out now
MPs failed to place legislation into the Financial Guidance and Claims bill that would have made pension guidance default, which Just Group director Stephen Lowe said left a "bitter taste".
Aegon has called for the government to double the tax exemption on employer-arranged pension advice, up from £500 to £1,000.
Institutional investor confidence in Europe rose by 8.9 points in April with each region showing growing appetite for risk, according to State Street Global Exchange.