The $17.89 billion Ohio Police & Fire Pension Fund investment (OP&F) has reported a 9.3 percent net return on its real estate portfolio for the first quarter of the year.
According to a report by The Townsend Group, OP&F’s real estate and real assets consultant, the pension fund had a 27.4 percent return on real estate for the one-year period through Dec. 31, 2021.
As of April 30, the real estate portfolio was valued at $1.97 billion, representing 10.8 percent of the total portfolio. The target allocation to real estate is 12 percent.
In January, OP&F Board approved a plan to target new commitments totaling between $140 million and $200 million to the tactical portion of its real estate portfolio. OP&F also anticipates a new commitment to the strategic portion of the portfolio.
In other news, Wilshire, OP&F’s general investment consultant, reported that despite a net of fees return of negative 0.73 percent for the quarter, the
