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FUNDRAISING NEWS | April 11, 2024

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

Tags: Pension Funds, Alternative Insights, Equities, International Equities, 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.

For more public pension insights and a comprehensive library of public plan minutes, we would love to offer you a free trial of Dakota Marketplace! New call-to-action

Written By: Jane Bailey, Marketing Associate

Jane Bailey is a Marketing Associate at Dakota.

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