The $17.3 billion Ohio Police & Fire Pension Fund (OP&F) has selected Parametric to manage a $350 million mandate in its new commodities asset class.
This is the first commodities manager selected for the new asset class, which has a target representing 2 percent of the total portfolio.
Parametric’s strategy seeks to avoid some of the concentrations found in many commodities indices, to invest more broadly across commodity types and sectors and includes several commodities not found in the broader indices. The company specializes in several commodities, including precious metals, livestock, agriculture, industrial metals and energy. As of March 31, Parametric had more than $3.5 billion of commodity assets under management.
Wilshire Associates and OP&F staff presented the recommendation to hire Parametric after a closed search that was commissioned in December 2022. Both Wilshire and staff independently agreed that Parametric was the clear favorite