Approved by the Board on October 16, 2009, the Arizona State Retirement System (ASRS) adopted a 40% target (30-50% allowable range) to domestic equities - Large, mid, and small cap stocks accounting for 28%, 6%, and 6%, respectively.
On April 30, 2012, the ASRS Investment Committee will consider recommending a new asset allocation to the Board for final approval (as per recommendation by ASRS' Investment Staff and Consultant). Domestic equities as an asset class will be reduced by 7% to 33% (26-38% allowable range) of the investment program - Large, mid, and small cap stocks shall make up 23%, 5%, and 5%, respectively.
Elsewhere, target exposure to international equities will rise from 18% to 23% (16-28% allowable range). Emerging markets, as a sub-asset class, will rise from 3% to 6% of the investment program.