Investment Plan - OPERS
Investment Plan - OPERS
Investment Plan - OPERS
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2 0 1 0 I N V E S T M E N T P L A N<br />
TABLE OF CONTENTS<br />
<strong>Investment</strong> Program<br />
Report from the CIO 1<br />
Organizational Structure 7<br />
Office of the CIO 9<br />
Fund Management 10<br />
Global Bonds Internal Management 12<br />
U.S. Equity Internal Management 14<br />
External Management 15<br />
<strong>Investment</strong> Governance 16<br />
Resources 20<br />
Fund Strategies<br />
Defined Benefit Fund 26<br />
Health Care Fund 35<br />
Defined Contribution Fund 43<br />
Asset Class Strategies<br />
Tactical Outlook 51<br />
Public Equity 55<br />
Public Fixed Income 62<br />
Private Equity 71<br />
Real Estate 75<br />
Opportunistic/Hedge Funds 81<br />
Commodities 81<br />
Infrastructure 81<br />
Appendix A<br />
Advisors’ Reviews 82<br />
Appendix B<br />
Economic Outlook 85<br />
Appendix C<br />
<strong>Investment</strong> Staff 92