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 March 31, 2025
| Asset Class | Market Value | Actual | Target |
|---|---|---|---|
| Global Public Equity | $10,698,262,288 | 43.7% | 45.0% |
| Private Equity |
$4,118,606,230 |
16.8% | 15.0% |
| Income Strategies |
$4,155,930,377 |
17.0% | 17.0% |
| Real Assets |
$3,131,934,352 |
12.8% | 13.0% |
| Risk Mitigation |
$1,988,135,398 |
8.1% | 10.0% |
| Unique Strategy |
$189,532,670 |
0.8% | 0.0% |
| Cash & Cash Overlay |
$219,303,439 |
0.9% | 0.0% |
| Total Assets |
$24,501,704,753 |
100.0% | 100.0% |
OCERS’ Fund Performance
As of March 31, 2025
| 3 Month | 1 Year | 3 Year | 5 Year | 10 Year | |||
|---|---|---|---|---|---|---|---|
| Total Fund (net of fees) |
0.9% |
5.9% | 5.1% | 10.2% | 7.3% | ||
| Policy Benchmark |
0.2% |
5.5% | 4.5% | 9.9% | 7.3% | ||
Investment Performance
Q1 2025 - Capital Markets Review
Global equities declined in Q1 2025 amid renewed market volatility and rising geopolitical risks. U.S. equities retreated sharply following concerns over newly proposed trade tariffs, a pullback in technology stocks, and investor uncertainty surrounding global economic growth. The S&P 500 fell -4.2% during the quarter, reversing some of the gains from 2024. Technology and growth-oriented sectors underperformed, with the Nasdaq 100 dropping -8.1% as investor enthusiasm around AI tempered and profit-taking ensued.