Miami Beach Fire & Police Increasing Target to Domestic Equity, Domestic Fixed Income

The Miami Beach Fire & Police Pension Fund has approved asset allocation updates to their international bond asset class, domestic equity and domestic fixed income, per meeting minutes from the February board meeting. 

The 5% target for international bonds was terminated. As a result, the 5% allocation will be distributed evenly to domestic equity and fixed income. 

The updated investment policy will increase the domestic equity allocation by 2.5% to 51.5%, while the domestic fixed income allocation will be increased to 19.5%. 

As of December 31, 2023, the Pension Fund had a market value of $1.13 billion.

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