Investments
Investments
OCERS is among the nation’s 100 largest public pension funds, with the Investment Committee overseeing the system’s diverse portfolio. The combination of employee and employer contributions and the earnings from OCERS’ investments give the retirement system the ability to pay our members the retirement benefits that they’ve earned.
OCERS’ Asset Allocation
As of December 31, 2025
| Asset Class | Market Value | Actual | Target |
|---|---|---|---|
| Global Public Equity | $12,985,855,615 | 47.0% | 45.0% |
| Private Equity |
$4,627,289,408 |
16.8% | 15.0% |
| Income Strategies |
$4,088,545,390 |
14.8% | 17.0% |
| Real Assets |
$3,480,149,220 |
12.6% | 13.0% |
| Risk Mitigation |
$1,989,137,743 |
7.2% | 10.0% |
| Unique Strategy |
$263,693,623 |
1.0% | 0.0% |
| Cash & Cash Overlay |
$196,915,819 |
0.7% | 0.0% |
| Total Assets |
$27,631,586,817 |
100.0% | 100.0% |
OCERS’ Fund Performance
As of December 31, 2025
| 3 Month | 1 Year | 3 Year | 5 Year | 10 Year | |||
|---|---|---|---|---|---|---|---|
| Total Fund (net of fees) |
2.5% |
14.6% | 12.0% | 8.6% | 8.9% | ||
| Policy Benchmark |
2.5% |
14.1% | 12.0% | 8.5% | 8.8% | ||
Investment Performance
Q4 2025 - Capital Markets Review
Global markets advanced in the fourth quarter of 2025, supported by steady growth, resilient corporate earnings, and a continuation of monetary easing. The Federal Reserve implemented a third 25 basis point rate cut in December, lowering the federal funds target range to 3.50%–3.75% and reinforcing confidence that policy was shifting toward a more supportive stance.