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Ohio police and firefighter pension fund to allocate 5% to gold
Will they flush it down the toilet in GLD or purchase real metal?
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New Asset Class Approved as First Step in Asset Allocation Review
From the Ohio Police & Fire Pension Fund
Friday, August 28, 2020
OP&F general investment consultant Wilshire Associates began an asset allocation review and presentation to the board during the Aug. 26 meeting. The comprehensive review has not concluded but the board did approve one change to the portfolio, adding a 5-percent allocation to gold.
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The approval allowed OP&F investment staff and Wilshire to explore how to best implement the strategy. No new manager will be hired and there is no timeline for implementation at this time. To allow for the additional 5-percent allocation, the board also approved increasing the current leverage amount on the total portfolio from 20 percent to 25 percent.
OP&F and Wilshire believe that the addition of gold will give the portfolio a strong diversifier to its growth-oriented investments as well as provide an effective hedge against inflation.
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