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Thursday, April 28, 2016


Investment Committee approves Operational Due Diligence Service Providers RFP

At its regular meeting on Wednesday, April 27, 2016, the Investment Committee approved a staff recommendation to issue a Request for Proposals (RFP) and search process for operational due diligence service providers.
The operational due diligence service providers will conduct an independent evaluation of selected OCERS alternative investment managers. The proposal deadline is noon (Pacific Time) on June 17, 2016. More information, including the final RFP, will be available on the OCERS Web site in early May 2016.


Investment Governance-related action approved

Currently, as indicated in OCERS' Investment Committee Charter, the Investment Manager Monitoring Subcommittee reviews investment managers on a two-year cycle. At its meeting on April 27, the Investment Committee approved a recommendation to review managers on a three-year cycle. The Investment Committee will continue to have the ability to bring specific managers in for review if there are concerns relating to issues such as performance or personnel changes.


Monthly Investment Portfolio Report update

Additionally, the Investment Committee received an update about OCERS' preliminary fund performance as of March 31, 2016. Chief Investment Officer Girard Miller reported that OCERS' total fund recorded a 4 percent increase in the month of March, helping the retirement system move into positive territory for the first quarter of 2016. OCERS has a year-to-date positive return of 0.69 percent. OCERS reported a one-year return of -1.7 percent as of that date, and a trailing five-year return of 5.2 percent. For the trailing 7-year span, OCERS recorded a strong 8.9 percent. As of March 31, 2016, OCERS' total fund was more than $12 billion.


OCERS' Board of Retirement will hold its next regular meeting at 9 a.m. on Monday, May 16, 2016; the next Investment Committee meeting will be held at 9 a.m. on Wednesday, May 25, 2016.



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