New Jersey DOI to boost fund commitments to Agriculture

The US public pension plans to diversify its real asset portfolio.

Institution: New Jersey Division of Investment
Headquarters: Trenton, United States
AUM: $75.08 billion
Allocation to alternatives: 28.78%

New Jersey Division of Investment intends to increase its investments in agriculture and agribusiness in an attempt to diversify its real asset portfolio, according to its May 2020 director’s report. The public pension aims to reduce its concentration in conventional energy through a multi-year investment pacing strategy of $200 million-$300 million and through diversifying outside of North America.

As illustrated below, the pension allocates 2.51 percent of its full investment portfolio to real assets. Its largest commitment to agriculture has been to the farmland sector in North America.

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