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Tactical Pooled Fund Changes

The BOKF’s Asset Allocation Committee believes recent data suggests that U.S. economic growth has slowed since the third quarter but remains resilient.  The labor market remains strong, supporting consumer spending.  Inflation has been trending lower but remains above the Federal Reserve’s 2% target.  Policy makers voted to hold the federal funds rate unchanged at the December meeting and penciled in multiple rate cuts for 2024.  In light of the Federal Reserve’s shift on monetary policy, the decision was made to neutralize the positions in portfolios, removing all underweights and overweighs to asset classes.

TACTICAL ALLOCATION CHANGES

UPAL Conservative Model Allocation

Decrease the allocations in the UPAL Money Market Fund by 2% and UPAL Alternative Investment Fund by 1%.  Increase the allocations in the UPAL Mid Cap Fund by 2% and the UPAL International Fund by 1%.

UPAL Balanced Model Allocation

Decrease the allocations in the UPAL Money Market Fund by 2% and the UPAL Alternative Investment Fund by 1%.  Increase the allocation in the UPAL Core Bond Fund by 1% and the UPAL Mid Cap Fund by 2%.

UPAL Aggressive Model Allocation

Decrease the allocations in the UPAL Money Market Fund by 2% and the UPAL Alternative Investment Fund by 2%.  Increase the allocation in the UPAL Mid Cap Fund by 4%.