(as of January 31, 2024)
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 January 31, 2024 | |
---|---|
U.S. Equity |
15.43% |
Non-U.S. Equity |
11.08% |
Private Markets |
8.21% |
Total Growth Assets |
34.71% |
High Yield Bonds |
7.94% |
Private Credit |
3.05% |
Total Defensive Growth Assets |
10.99% |
U.S. Inflation Protected Securities |
15.93% |
Real Estate |
10.41% |
Real Assets |
6.02% |
Midstream Energy Infrastructure |
5.71% |
Gold |
5.69% |
Commodities |
0.48% |
Total Inflation Oriented Assets |
44.24% |
Fixed Income |
22.42% |
Cash |
10.70% |
Total Defensive Assets |
33.12% |
TOTAL FUND |
123.06% |
Transition Policy Benchmark for 2024 | |
---|---|
U.S. Equity |
20.40% |
Non-U.S. Equity |
13.00% |
Private Markets |
8.50% |
Total Growth Assets |
41.90% |
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 |
6.50% |
Midstream Energy Infrastructure |
5.00% |
Gold |
5.60% |
Commodities |
2.00% |
Total Inflation Oriented Assets |
46.10% |
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% |