IMRF Investments News

May 22, 2017

OAK BROOK, Ill. – Today, the Illinois Municipal Retirement Fund (IMRF) Board of Trustees approved multiple investment recommendations, subject to satisfactory legal due diligence. These recommendations were made to implement the results of the 2016 Asset Liability Modeling (ALM) Study. The ALM Study recommended adding a two percent target allocation to Public Real Assets, reducing the Core Plus Fixed Income allocation from 12 percent to 10 percent and increasing the Core Fixed Income allocations from 12 percent to 14.5 percent


These recommendations were the result of IMRF’s request for proposals (RFP) for Publicly Listed Infrastructure Equity and/or Debt and Unlisted Infrastructure Equity and/or Debt. The RFP was launched on February 1, 2017.

The Board approved the following Publicly Listed Infrastructure commitments, each up to:

The Board approved the following Unlisted Infrastructure commitments, each up to:

Fixed Income

In order to increase the Core Fixed Income allocation by 2.5 percent and reduce the Core Plus allocation by 2%, consistent with the 2016 ALM Study recommendations, the Board approved the following fixed income manager recommendations:

Earnest, Garcia Hamilton and Piedmont are minority-owned fixed income investment firms. Following the implementation of these recommendations, the approximate allocation to each of these managers will be as follows:

All of today’s investment recommendations are consistent with the Board-approved 2016 ALM Study recommendations.

As of March 31, 2017, the IMRF total portfolio was valued at $37.6 billion.