Ohio Public Employees Retirement System, Columbus, slightly increased its targets to emerging markets debt and Treasury inflation-protected securities in the target allocation of its defined benefit plan, spokeswoman Julie Graham-Price in an email.
The $89 billion retirement system, which includes $77 billion in defined benefit plan assets, increased its target to emerging markets debt to 7% from 6% and TIPS to 2% from 1%. The global high-yield target of 1% has been eliminated and core fixed income reduced to 9% from 10%. The plan still has a 3% target to high yield. No managers will be terminated.
Other targets in the defined benefit plan that remain the same are 39% public equities; 10% each private equity and real estate; 8% hedge funds; 5% risk parity; 2% each opportunistic fixed income and global asset allocation; and 1% each commodities, securitized debt and U.S. Treasuries.
Investment consultant NEPC assisted.
