Friday, July 24, 2015
Monthly Investment Portfolio Report update
The Investment Committee approved the selection of BlueMountain Long/Short Equity Fund with a mandate of 6.0%-8.5% of OCERS' direct hedge fund program ($54 million to $76 million based on May 31, 2015 asset values).
The Investment Committee approved an exit strategy for the euro currency hedge, authorizing and guiding the CIO to scale out of OCERS' current hedge position.
Regarding OCERS' Currency Hedging Strategy, the Committee authorized a euro hedge at its November 19, 2014 regular meeting, which was subsequently implemented on December 4, 2014.
The next regular Board of Retirement meeting will be held at 9 a.m. on Monday, JAugust 17, 2015; the next Investment Committee meeting will be held at 9 a.m. on Wednesday, August 26, 2015. Both meetings will be held in the Board Room at OCERS, 2223 E. Wellington Avenue, Suite 100, Santa Ana, CA.