(as of September 30, 2023)
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 September 30, 2023 | |
---|---|
U.S. Equity |
15.22% |
Non-U.S. Equity |
10.91% |
Private Markets |
8.55% |
Total Growth Assets |
34.68% |
High Yield Bonds |
7.80% |
Private Credit |
3.06% |
Total Defensive Growth Assets |
10.86% |
U.S. Inflation Protected Securities |
15.81% |
Real Estate |
11.45% |
Real Assets |
6.20% |
Midstream Energy Infrastructure |
6.75% |
Gold |
5.63% |
Total Inflation Oriented Assets |
45.84% |
Fixed Income |
21.18% |
Cash |
10.14% |
Total Defensive Assets |
31.32% |
TOTAL FUND |
122.70% |
Transition Policy Benchmark for 2023 | |
---|---|
U.S. Equity |
20.70% |
Non-U.S. Equity |
13.00% |
Private Markets |
8.50% |
Total Growth Assets |
42.20% |
High Yield Bonds |
8.50% |
Private Credit |
3.50% |
Total Defensive Growth Assets |
12.00% |
U.S. Inflation Protected Securities |
16.00% |
Real Estate |
12.00% |
Real Assets |
6.00% |
Midstream Energy Infrastructure |
5.00% |
Gold |
5.80% |
Total Inflation Oriented Assets |
45.80% |
Fixed Income |
24.00% |
Cash |
1.00% |
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% |