Investors - JUNE 29, 2017

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OP&F adopts new long-term asset allocation

by Jody Barhanovich

The $15.1 billion Ohio Police & Fire Pension Fund has adopted a new long-term asset allocation policy, according to David Graham, communications manager.

The new allocation will slightly increase expected returns while at the same time reducing expected risk versus OP&F’s current long-term allocation policy.

Significant changes in the policy include shifting a levered global inflation-linked bonds allocation to a levered U.S. inflation-linked bonds mandate. The high-yield allocation also will be reduced from 15 percent to 7 percent with private credit, which had been included within high yield, getting a separate 5 percent allocation. Increases are targeted for the levered core fixed-income allocation (an increase from 20 percent to 23 percent) and the real assets allocation (an increase from 5 percent to 8 percent) as well. No changes were made to the real estate allocation, which remains at 12 percent.

OP&F adopted the new policy after extensive

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