Friday, July 29, 2016
Investment Committee approves the selection of two Operational Due Diligence
At its regular meeting on Wednesday, July 27, 2016, the Investment Committee approved the selection of two finalists to serve as Operational Due Diligence Service Providers on a situational basis. The two finalists approved to serve as Service Providers are Aksia, LLC and Laven Partners
2015 Annual Fee Report update
The Investment Committee received an update about the $131.6 million total investment-related fees paid in 2015. The total fees reported includes both direct and indirect fees embedded in funds, and performance fees where earned .
Eighty-six percent of fees were paid for "alternative" investment strategies which represent 46 percent of the total portfolio, including real estate in that non-traditional category.
Portfolio Report update
Additionally, the Investment Committee received an update about OCERS' preliminary fund performance as of June 30, 2016. CIO Girard Miller reported that OCERS' total fund recorded a 0.27 percent increase in the month of June. OCERS has a year-to-date positive return of 2.84 percent. OCERS reported a one-year return of -0.46 percent as of that date, and a trailing five-year return of 5.32 percent. For the trailing 7-year span, OCERS' recorded a strong 7.96 percent return.
As of June 30, 2016, OCERS' total fund was more than $12.6 billion.
OCERS' Board of Retirement will hold its next regular meeting at 9 a.m. on Monday, August 15, 2016; the next Investment Committee meeting will be held at 9 a.m. on Wednesday, August 24, 2016.