Institution: New Bedford Retirement System
Headquarters: New Bedford, United States
Allocation to alternatives: 20.22%
New Bedford Retirement System increased its real estate allocation by 0.69 percentage points from 9.90 percent in December 2018 to 10.59 percent in June 2019, a contact at the pension informed PERE.
The Massachusetts-based public pension has a 11.0 percent target allocation to real estate.
As illustrated below, the pension’s real estate allocation has often fluctuated in recent years. New Bedford’s exposure to the asset class was 9.90 percent in December 2016, before dipping to a low of 8.20 percent in December 2017. Subsequent jumps to 9.90 percent in December 2018 and 10.59 percent in June 2019 have edged the pension nearer to its target real estate allocation.
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