Investment Plan 2011 - OPERS

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Ohio Public Employees Retirement System 2011 Annual Investment Plan Board Policies Governing Investment Activities The following exhibit illustrates the structure and relationship of the policies within the total System and its three investment Funds. DEFINED BENEFIT FUND Investment Objectives and Asset Allocation Policy Public Equity Policy Public Fixed Income Policy Private Equity Policy Real Estate Policy Broker - Dealer Policy Corporate Governance Derivatives Policy External Investment Managers’ Insurance Policy External Public Manager Evaluation Policy * External Public Manager Search Policy * Iran and Sudan Divestment Policy *Under consideration to be replaced with procedures OPERS FUNDS FUND POLICIES HEALTH CARE FUND Investment Objectives and Asset Allocation Policy ASSET CLASS POLICIES INVESTMENT-WIDE POLICIES Staff Committee Structure The CIO utilizes a variety of committees, working groups and meeting structures to govern the Investment Division’s activities. This internal governance arrangement enhances collective inputs, retains institutional knowledge, provides documentation of the due diligence process and other processes, promotes transparency and accountability and formalizes decision-making processes. These committees are designed to combine structure and flexibility to efficiently bring the appropriate decision makers together on a timely basis and maintain a controlled environment to minimize operational risk. Page 5 DEFINED CONTRIBUTION FUND Investment Objectives and Asset Allocation Policy Cash Policy Commodity Policy Hedge Fund Policy Opportunistic Fund Policy Material Nonpublic Information Policy Ohio-Qualified & Minority Manager Policy Personal Trading Policy Proxy Voting Guidelines Responsible Contractor Policy Securities Lending Policy Soft Dollar/Other Commission Arrangements Policy
Ohio Public Employees Retirement System 2011 Annual Investment Plan The following provides an outline of the Investment related committees. Committee/Meeting Purpose and Description Investment Committees - Approvals and Decisions Broker Review* Monitor/Approve and Evaluate Brokers, Submit ORSC Reports Compliance* Escalate and Resolve Compliance Issues Counterparty* Set Counterparty Limits and Monitor Counterparty Exposures External Public Markets* Review External Public Managers and Manager searches Fund Asset Alloc. and Strategy* Implement Asset Alloc. & Inv. Strategies, Cash Forecasting, Fund and Portfolio exposure metrics and Manager Guidelines Operational Risk* Identify and Monitor operational risks Risk Steering* Risk Assessments and Prioritization Tactical Asset Allocation* Make asset asset allocation decisions using derivatives Investment Meetings - General Defined Contribution Oversight Coordinate with DC team Investment Strategy Group Review asset class performance and projections Private Equity Review PE Opportunities for CIO approval Real Estate Review RE Opportunities for CIO approval Eagle Conversion/IT Coordinate with IT on system changes and upgrades Investment Meetings - Internal Portfolio Management and Administration Global Bonds Sector Reviews/Outlooks, Portfolio Composition and Risk Management Index and Derivatives Portfolios Review Markets, Strategies and Internally Managed Index Portfolios Transition Management Transition assets between managers & conduct rebalancings Internal Equity Index Strategy, Tactics, News Flow & Training Non-Investment Division Committees - Committees with Investment Staff Involvement Advisors Council* Iran/Sudan Divestiture* Management Council* Corporate Governance* Leadership Council* Technology Council Guiding Council* * Committee has a charter and maintains minutes The committees and working groups vary in both the frequency of meetings and the degree of structure and formality - some provide informal information sharing and some have formal written charters. The CIO or deputy CIO’s chair the committees, or provide leadership to the working groups or formal meetings. The CIO is informed of all activities and committee activities. Page 6
Page 1 and 2: Defined Benefit Fund Ohio PERS Inve
Page 4 and 5: Ohio Public Employees Retirement Sy
Page 34 and 35: 2011 Appendix A
Page 42 and 43: 2011 Appendix B
Page 52: 277 East Town Street Columbus, Ohio

Investment Plan 2011 - OPERS

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