New Bedford increases allocation to timberland and natural resources

The US public pension has boosted its exposure to the asset class.

Institution: New Bedford Retirement System
Headquarters: New Bedford, United States
AUM: $326.39m
Allocation to alternatives: 20.22%
Bitesize: $5-10m

New Bedford Retirement System increased its timberland and natural resources allocation from 1.10 percent in December 2018 to 1.17 percent in June 2019, a contact at the pension informed Agri Investor. This marks the pension’s first change in allocation to the asset class since it was added to the investment portfolio in 2018.

The Massachusetts-based public pension has a 4.0 percent target allocation to timberland and natural resources.

As illustrated below, New Bedford has now made its first commitment to a timberland fund since introducing the asset class to its portfolio: an undisclosed amount to 2018-vintage Hancock Timberland & Farmland Fund.

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