Soon enough, we will find out who advised on this:
Under Millard's strategy, the pension agency was directed to invest 55 percent of its funds in stocks and real estate. That included 20 percent in US stocks, 19 percent in foreign stocks, 6 percent in what the agency's records term "emerging market" stocks, 5 percent in private real estate and 5 percent in private equity firms.
That would be the Pension Benefit Guarantee Association, who shifted their allocation in February, 2008.
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