Investments
Investments
OCERS is among the nation’s 100 largest public pension funds, with the Investment Committee overseeing the system’s diverse portfolio. The combination of employee and employer contributions and the earnings from OCERS’ investments give the retirement system the ability to pay our members the retirement benefits that they’ve earned.
OCERS’ Asset Allocation
As of March 31, 2024
| Asset Class | Market Value | Actual | Target |
|---|---|---|---|
| Global Public Equity | $11,208,188,768 | 48.1% | 45.0% |
| Private Equity |
$3,625,450,568 |
15.6% | 15.0% |
| Income Strategies |
$3,240,006,283 |
13.9% | 17.0% |
| Real Assets |
$3,017,154,815 |
13.0% | 13.0% |
| Risk Mitigation |
$1,903,723,758 |
8.2% | 10.0% |
| Unique Strategy |
$166,348,564 |
0.7% | 0.0% |
| Cash & Cash Overlay |
$136,896,420 |
0.6% | 0.0% |
| Total Assets |
$23,297,769,176 |
100.0% | 100.0% |
OCERS’ Fund Performance
As of March 31, 2024
| 3 Month | 1 Year | 3 Year | 5 Year | 10 Year | |||
|---|---|---|---|---|---|---|---|
| Total Fund (net of fees) |
4.7% |
13.0% | 6.9% | 8.6% | 7.2% | ||
| Policy Benchmark |
4.3% |
12.5% | 6.4% | 8.3% | 7.3% | ||
Investment Performance
Q1 2024 - Performance Review
Global equities rallied in the first quarter of 2024, driven by the strength of the US economy and investors’ excitement around the promise of artificial intelligence. The US significantly outperformed the rest of the world, with the S&P 500 returning 10.6%. Developed markets lagged the US but posted solid returns, rising 5.8%. Emerging market equities underperformed their international counterparts, advancing 2.4%.