State investment portfolios are seeing an uptick in alternative investments with less focus on fixed income.

This trend was highlighted by five public fund chief investment officers during a panel at the Dec. 4 National Association of State Treasurers (NAST) conference in New York City. The panel called "Trends in Asset Allocation" focused heavily on how alternative investments such as real estate, private equity and hedge funds have been effective with portfolios increasing yields while also combatting the risk of expected higher interest rates in the near future.

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