Champaign, IL – The State Universities Retirement System (SURS) Board of Trustees on April 20 voted to approve implementing changes to their investment strategic policy allocation targets over the next few months.
SURS does not expect any Principal Protection (PP) managers to be hired or any Crisis Risk Offset (CRO) managers to be terminated due to the changes.
Targets are as follows:
| Functional Class | Current Portfolio Target Weights | Target Weights Approved in 2021 | Target Weights Approved in 2023 |
| Non-Traditional Growth | 14% | 16% | 16% |
| Traditional Growth | 37% | 35% | 35% |
| Stabilized Growth | 17% | 17% | 17% |
| Inflation Protection | 5% | 5% | 5% |
| Principal Protection | 8% | 8% | 10% |
| Crisis Risk Offset | 19% | 19% | 17% |
In other business:
• The board voted to replace the Delaware Small-Mid Cap Growth R6 fund with the Fiera Capital Small-Mid Cap Growth fund for both the SURS Retirement Savings Plan (RSP) and the SURS Deferred Compensation Plan (DCP). The change will be made as soon as administratively possible with the replacement to include the mapping of the plans’ current assets and future contributions for both the RSP and DCP.
• The board agreed to remain with Foley & Lardner as SURS fiduciary counsel and approved hiring Ottosen DiNolfo as reserve counsel.