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Wednesday, February 21, 2018


Monthly Investment Portfolio Report update


At its February 20, 2018 meeting, OCERSí Investment Committee received an update about OCERSí preliminary fund performance as of January 31, 2018. Staff reported that OCERSí total fund recorded a 2.5 percent return (net of fees) in the month of January, with a trailing one-year return of 15.4 percent as of January 31, 2018, and an 8.2 percent gain when looking at the trailing three-year period. For the trailing 5-year span, OCERS recorded a 7.7 percent gain.


As of January 31, 2018, OCERSí total fund was at an all-time high of $16.1 billion.


Illiquid Investments Advisory Services RFP Finalists Update


In other action taken at its most recent meeting, the Investment Committee took the following actions:


  1. Approved TorreyCove Capital Partners for private equity and private real assets consulting services.

  2. Approved the Townsend Group for real estate consulting services.


Both TorreyCove Capital Partners and Townsend Group were finalists selected as part of the Illiquid Investments Advisory Services RFP that was issued in September 2017. As part of the process, both consultants made initial presentations to OCERS' staff in early December 2017, and each hosted on-site due diligence meetings in January 2018.


Annual Cost-of-Living Adjustment (COLA) Approved by Board of Retirement


OCERS payees will see a cost-of-living adjustment (COLA) beginning with their May 1, 2018 monthly retirement allowance of 3 percent.


At its regular meeting held on February 13, 2018, the Board of Retirement approved a recommendation to adjust all applicable retirement allowances in accordance with the 2.79 percent change in the Consumer Price Index (CPI). Per Government Code Section 31870.1, OCERS annually adjusts the benefit allowances relative to the increase or decrease in the CPI, up to a maximum of 3 percent; that section also states that any increase or decrease in the CPI is to be rounded to the nearest one-half of one percent (2.79 percent rounded to 3 percent).


OCERSí Board of Retirement will meet at 9 a.m. on Monday, March 19, 2018.


The next Investment Committee meeting will be held on Thursday, March 29, 2018.


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