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 | $12,406,644,728 | 44.15% | 45.0% |
| Private Equity |
$5,240,035,239 |
18.65% | 15.0% |
| Income Strategies |
$4,057,967,855 |
14.44% | 17.0% |
| Real Assets |
$3,568,924,242 |
12.7% | 13.0% |
| Risk Mitigation |
$2,071,920,781 |
7.37% | 10.0% |
| Unique Strategy |
$593,804,591 |
2.11% | 0.0% |
| Cash & Cash Overlay |
$163,830,261 |
0.59% | 0.0% |
| Total Assets |
$28,103,127,701 |
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) |
1.80% |
15.66% | 11.44% | 8.38% | 9.04% | ||
| Policy Benchmark |
-0.14% |
13.7% | 10.51% | 7.62% | 8.57% | ||
Investment Performance
Q1 2026 - Capital Markets Review
Global markets declined in the first quarter of 2026 as investor sentiment weakened amid rising geopolitical tensions, higher oil prices, renewed inflation concerns, and reduced expectations for near-term monetary easing. The Federal Reserve held policy steady during the quarter, leaving the federal funds target range at 3.50% to 3.75%.