(as of March 31, 2025)
A risk parity approach adopted in 2010 allows a portion of the portfolio to be conservatively leveraged; reducing the total expected risk of the portfolio without sacrificing the expected return. Essentially, the risk parity approach balances OP&F’s exposure among investment classes that perform differently in various economic and market environments.
Actual Allocation as of March 31, 2025 | |
---|---|
U.S. Equity |
20.74% |
Non-U.S. Equity |
13.02% |
Private Markets |
7.61% |
Total Growth Assets |
41.38% |
High Yield Bonds |
7.98% |
Private Credit |
3.34% |
Total Defensive Growth Assets |
11.32% |
U.S. Inflation Protected Securities |
16.20% |
Real Estate |
10.03% |
Real Assets |
6.49% |
Midstream Energy Infrastructure |
6.42% |
Gold |
6.33% |
Commodities |
2.12% |
Total Inflation Oriented Assets |
47.59% |
Fixed Income |
23.77% |
Cash |
0.70% |
Total Defensive Assets |
24.47% |
TOTAL FUND |
124.75% |
Transition Policy Benchmark for 2025 | |
---|---|
U.S. Equity |
20.20% |
Non-U.S. Equity |
13.00% |
Private Markets |
8.50% |
Total Growth Assets |
41.70% |
High Yield Bonds |
8.00% |
Private Credit |
4.00% |
Total Defensive Growth Assets |
12.00% |
U.S. Inflation Protected Securities |
15.00% |
Real Estate |
12.00% |
Real Assets |
6.90% |
Midstream Energy Infrastructure |
5.00% |
Gold |
5.40% |
Commodities |
2.00% |
Total Inflation Oriented Assets |
46.30% |
Fixed Income |
25.00% |
Cash |
0.00% |
Total Defensive Assets |
25.00% |
TOTAL FUND |
125.00% |
Long-Term Policy Benchmark | |
---|---|
U.S. Equity |
18.60% |
Non-U.S. Equity |
12.40% |
Private Markets |
10.00% |
Total Growth Assets |
41.00% |
High Yield Bonds |
7.00% |
Private Credit |
5.00% |
Total Defensive Growth Assets |
12.00% |
U.S. Inflation Protected Securities |
15.00% |
Real Estate |
12.00% |
Real Assets |
8.00% |
Midstream Energy Infrastructure |
5.00% |
Gold |
5.00% |
Commodities |
2.00% |
Total Inflation Oriented Assets |
47.00% |
Fixed Income |
25.00% |
Cash |
0.00% |
Total Defensive Assets |
25.00% |
TOTAL FUND |
125.00% |