Ohio Police & Fire Pension Fund, Columbus, will exchange seven direct real estate investments INVESCO runs for the fund for access to the INVESCO Core Real Estate Fund. The seven direct investments still need to be valued, said David Graham, spokesman for the $12.5 billion fund. INVESCO is the funds only direct real estate manager. Fund officials want to put all its real estate assets in commingled real estate funds to help reach the funds target 8% real estate allocation more quickly. The current real estate allocation is $911 million, or 7.3% of assets.