VRS Board Approves Enhanced Strategic Portfolio

RICHMOND, Va. May 24, 2004—The Virginia Retirement System (VRS) Board of Trustees approved at its May 20 meeting an enhanced strategic portfolio for the $38 billion pension fund.

"The changes in the portfolio will be made as opportunities arise over time in a manner that enhances fund performance and anticipated returns," said Chief Investment Officer Nancy C. Everett.

Strategic Portfolio
	Current	Proposed
Fixed Income	22.00%	20.00%
Domestic Equity	48.00%	38.75%
Non-U.S. Equity	17.85%	20.00%
High Yield	0%	3.0%
Private Equity	5.1%	7.0%
Real Estate	3.8%	6.0%
Hedge Funds	3.0%	5.0%
Cash	0.25%	0.25%

VRS is the 30th largest public or private pension fund in the United States with a $38 billion portfolio.

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