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 June 30, 2024
| Asset Class | Market Value | Actual | Target |
|---|---|---|---|
| Global Public Equity | $11,052,214,033 | 46.7% | 45.0% |
| Private Equity |
$3,731,911,966 |
15.8% | 15.0% |
| Income Strategies |
$3,274,973,690 |
13.9% | 17.0% |
| Real Assets |
$3,103,057,595 |
13.1% | 13.0% |
| Risk Mitigation |
$1,865,973,473 |
7.9% | 10.0% |
| Unique Strategy |
$183,620,723 |
0.8% | 0.0% |
| Cash & Cash Overlay |
$436,581,827 |
1.9% | 0.0% |
| Total Assets |
$23,648,333,305 |
100.0% | 100.0% |
OCERS’ Fund Performance
As of June 30, 2024
| 3 Month | 1 Year | 3 Year | 5 Year | 10 Year | |||
|---|---|---|---|---|---|---|---|
| Total Fund (net of fees) |
1.7% |
11.5% | 5.1% | 8.3% | 7.0% | ||
| Policy Benchmark |
1.4% |
10.5% | 4.8% | 7.9% | 7.1% | ||
Investment Performance
Q2 2024 - Capital Markets Review
Global equities continued their appreciation during the second quarter of 2024, largely driven by impressive gains in the technology sector. The S&P 500 climbed by 4.3%, buoyed by investor optimism surrounding artificial intelligence developments from tech giants like Nvidia and Microsoft. Conversely, the MSCI EAFE index fell by -0.4%, reflecting weaker performance in developed markets outside the US. Emerging markets outperformed, with the MSCI Emerging Markets index increasing by 5.0%, driven by strong returns in India, China, and Taiwan.