The $15.54 Ohio Police & Fire Pension’s real estate asset class had a net return of 3.5 percent for the fourth quarter and a net 10.0 percent return for 2017, according to David Graham, communications director.
The real estate portfolio is valued at $1.65 billion, or 10.7 percent of the total portfolio. The current and long-term target for real estate is 12 percent.
The pension fund made its first real estate commitment of 2018 to Almanac Realty Securities Fund VIII.
The pension fund’s real estate consultant, The Townsend Group, presented the real estate and real assets performance reports for periods ending Dec. 31, 2017.
In addition, its real assets portfolio had a 2.8 percent net return for the fourth quarter 2017. The real assets portfolio is valued at $340 million, or 2.2 percent of the total portfolio. The long-term target for the asset class is 8.0 percent.
