Defined Benefit Fund Total Assets

The investment objective of the DB Fund is to support OPERS’ mission to provide secure retirement benefits for its members. Meeting this objective necessitates making active decisions about markets in a long-term framework which, by its nature, involves taking reasonable risks. OPERS also seeks to operate effectively and at an appropriate cost.

The Board sets target allocations to various asset and sub-asset classes that are designed to meet OPERS' long-term investment objectives. The target allocation mix used to calculate benchmark performance for the DB Fund will be established on a quarterly basis for the following quarter. The asset and sub-asset classes for the DB Fund are as follows:

  1. Asset Classes
    1. Public Equity – Asset Class
      1. U.S. Equity Assets – Sub Asset Class
      2. Non-U.S. Equity Assets – Sub Asset Class
    2. Public Fixed Income – Asset Class
      1. Core Fixed – Sub Asset Class
      2. Investment Grade Credit – Sub Asset Class
      3. Securitized Debt – Sub Asset Class
      4. TIPS – Sub Asset Class
      5. High Yield – Sub Asset Class
      6. Emerging Markets Debt – Sub Asset Class
      7. U.S. Treasury – Sub Asset Class
    3. Alternatives – Asset Class
      1. Private Equity – Sub Asset Class
      2. Real Estate – Sub Asset Class
      3. Private Credit - Sub Asset Class
      4. Opportunistic – Sub Asset Class
      5. REITs – Sub Asset Class
      6. Commodities – Sub Asset Class
    4. Risk Parity – Asset Class
    5. Risk Mitigation Strategies – Asset Class
      1. Long Duration Treasuries – Sub Asset Class
      2. Trend Following – Sub Asset Class
      3. Alternative Risk Premia – Sub Asset Class