SCERS takes diversification plunge

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US - The Sacramento County Employees' Retirement System (SCERS) has scaled down its US equities and fixed income exposure by 5% each and created an opportunities portfolio to diversify its investments.

The US$6.2bn fund made its first private equity allocation worth $50m to a HarbourVest fund of funds and confirmed it would be keen to explore the asset class further. Jeffrey States, CIO, SCER...

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