Ohio SERS to bump up real assets allocation in July

The Ohio School Employees Retirement System (SERS) is planning to transition to a new asset allocation, increasing its real assets target from 15 percent to 17 percent, effective July 1.

The investment plan for fiscal year 2020 was to achieve a 15 percent target allocation to real assets and commit $100 million to new managers, according to Ohio SERS. As of March 31, SERS was overweight to real assets, with a 17 percent actual allocation against a 15 percent target, according to a board meeting document.

The restructuring, which was approved by the board in February, also will involve new targets for its global equity, fixed income, global private equity, private credit and cash allocations, which will be funded by dismantling its multi-asset strategies (hedge funds) allocation. Previously, the multi-asset strategies portfolio had a 10 percent target allocation. Ohio SER