The $15.65 billion Ohio Police & Fire Pension Fund (OP&F) has approved the rebalancing of its open-end real estate portfolio, according to notes from the pension fund’s Aug. 25 investment committee meeting.
As part of the rebalancing process, the board approved a full redemption request from Jamestown Premier Property Fund (OP&F’s current investment is valued at $86.4 million), a partial redemption request of $50 million from Heitman Core Property Fund, a partial redemption request of $50 million from JP Morgan Strategic Property Fund, and turning on the dividend reinvestment plan for Lion Industrial Trust.
The board also recorded a bounceback on returns in the second quarter of the year, with a 9.21 percent return on investments through June 30. However, the year-to-date return remains –5.5 percent.
