OP&F News

OP&F Investment notes, January 2020

Notes from the Investment Committee meeting on Jan. 22

Portfolio value

The OP&F portfolio was valued at $16.42 billion as of 1/21

Private markets plan sets target for 2020

The Board approved the recommendation by staff and investment consultant Wilshire Associates for the 2020 Private Markets Investment Plan. The plan calls for between $92 million and $142 million in new commitments during the year, most likely divided into approximately five different opportunities (see below). The private markets portfolio is 8.3 percent of the total OP&F portfolio, or $1.36 billion. The target allocation for private markets is 8.0 percent.

First private markets recommendation approved: $20 million to MBK V The Board approved a recommendation from staff and TorreyCove (OP&F’s private markets consultant) to commit up to $20 million to MBK Partners Fund V, L.P. The commitment is the first of the year as planned by the private markets plan approved in the same meeting.

MBK V specializes in telecommunication/media, financial services and consumer retail opportunities in North Asia (Japan, Korea and China). In 2016, OP&F committed to MBK IV.

Real estate plan for 2020 approved

Tactical portfolio commitments between $110 and $160 million will be targeted throughout this year after the OP&F Board of Trustees approved the 2020 Real Estate Investment Plan. OP&F’s real estate consultant, The Townsend Group, recommended the plan at the Board’s January meeting.

The entire targeted amount will be dedicated to opportunities in the tactical portion of the real estate portfolio. The approved plan calls for the strategic portion of the real estate portfolio to maintain its exposure with possible adjustments based on an upcoming review of OP&F’s open-end funds exposures.

The OP&F real estate portfolio is valued at $1.77 billion, or 10.84 percent of the total portfolio. The target for real estate is 12 percent.

Real assets plan approved for 2020

Townsend also presented its recommendation for the 2020 real assets investment plan, which was approved by the Board. A range of $70 million to $160 million is targeted for the infrastructure portion of the real assets portfolio in 2020, specifically to closed-end funds. The plan calls for a gradual increase in agriculture investments over the longer-term, with no amount or timing specified. The plan noted that no new timberland investments are planned for the year.

The OP&F real assets portfolio is valued at $482 million, or 2.95 percent of the total portfolio. The target for real assets is 5.2 percent.

Posted 1/24/2020

Other News

OP&F Investment notes, January 2020
- Posted January 24, 2020
The Bridge sponsoring retreat for first responders
- Posted January 21, 2020
Secure Act changes age for withdrawals
- Posted January 10, 2020
Webinars planned to inform about Medicare choices
- Posted January 10, 2020
Member’s Report Winter Newsletter now available
- Posted January 08, 2020
2020 Direct deposit dates for benefit payments
- Posted December 23, 2019
Pre-Medicare open enrollment extended until Dec. 18
- Posted December 17, 2019
Reminder for Medicare retirees: open enrollment period ends Saturday, Dec. 7
- Posted December 02, 2019
DROP distributions information
- Posted November 27, 2019
Medicare Part D “Donut Hole” changes for 2020
- Posted November 26, 2019
YSA has new mailing address for stipend reimbursements
- Posted November 22, 2019
Blue Cross/Blue Shield plans from Solidarity Health Network are stipend-eligible
- Posted November 19, 2019
OP&F working with Aon to resolve online issues
- Posted November 18, 2019
Pre-Medicare retirees: what plans are available in my county?
- Posted November 01, 2019
Higher DROP interest rate approved by Board
- Posted October 29, 2019
OP&F Investment Notes, October 2019
- Posted October 25, 2019
Court dismisses claims against OP&F in health care case
- Posted October 23, 2019
DROP distributions information
- Posted October 17, 2019
Latest actuarial study shows OP&F still meets funding requirements
- Posted October 14, 2019
Member’s Report Fall Newsletter now available
- Posted October 07, 2019
Aon hosting webinars for those unable to attend meetings in person
- Posted October 01, 2019
OP&F Investment Notes, September 2019
- Posted September 26, 2019
Employer Self-Serve Web Reporting video now available
- Posted September 24, 2019
Boy Scouts Annual Flag Raising Ceremony
- Posted September 09, 2019
Budget award presented to OP&F
- Posted September 04, 2019
Board approves premiums, expenses for Tricare insurance for stipend use
- Posted August 29, 2019
Aon schedules statewide health care meetings for September
- Posted August 15, 2019
The Bridge to present at three OP&F pre-retirement seminars
- Posted July 24, 2019
Member’s Report Summer Newsletter now available
- Posted July 08, 2019
Monthly health care reimbursements affected by July 4th holiday
- Posted July 02, 2019
OP&F Investment Notes June 2019
- Posted June 21, 2019
New OP&F website design to be unveiled
- Posted June 17, 2019
Trustee election results announced
- Posted May 30, 2019
OP&F Investment Notes May 2019
- Posted May 23, 2019
Pre-Retirement Seminar dates set for August
- Posted May 22, 2019
Former trustee Martin Erbaugh passes
- Posted May 21, 2019
COBRA premiums now qualify for stipend use; open HRA for pre-Medicare set for 2020
- Posted May 08, 2019
OP&F Investment Notes April 2019
- Posted April 25, 2019
Member’s Report Spring Newsletter now available
- Posted April 16, 2019
Candidates confirmed for trustee elections
- Posted April 05, 2019
Deighton honored with award from Ohio Credit Union League
- Posted April 03, 2019
OP&F Investment Notes March 2019
- Posted March 21, 2019
Still need dental or vision coverage?
- Posted March 12, 2019
Maloney Stifler re-appointed to OP&F Board
- Posted March 07, 2019
Aon to open Columbus office dedicated to OP&F retirees
- Posted March 01, 2019
Changes proposed for 2020 retiree health care based on member feedback
- Posted March 01, 2019
OP&F Investment Notes February 2019
- Posted February 28, 2019
Let your elected officials know about health care
- Posted February 27, 2019
Aon update and apology
- Posted February 20, 2019
Trustee Deighton responds to health care transition criticism
- Posted February 19, 2019
Friendly reminder to OP&F members of the Aon HRA reimbursement process
- Posted February 06, 2019
OP&F responds to retiree health care questions
- Posted January 28, 2019