OP&F Investment notes, January 2025

Portfolio value: The OP&F portfolio was valued at $19.04 billion as of Jan. 28.

Board votes to terminate Western Asset Management

The OP&F Board voted to terminate the short-term cash mandate managed by Western Asset Management at its Jan. 29 meeting. The decision was based on organizational developments within the firm. Western has been on OP&F’s “watch list” since September 2024.

OP&F will re-allocate the assets among existing investment managers. To date, there has been minimal impact on the mandate’s value. As of Dec. 31, 2024, Western Asset Management mandate was valued at $180 million. Western was hired for the current mandate in April 2018.

Posted 2/03/2025