OHPRS awards emerging markets mandate to OFI

23 Sep 2011
Allocations, News, OFI Asset Mangement

OFI Asset Management has been appointed by the $700m Ohio Highway Patrol Retirement System, Mena FM can reveal.

The mandate is valued at $20m, and follows an earlier decision by the System to increase its emerging market exposure. In June, the OHPRS increased its international equities exposure from 15% to 20%, 17% of which is now earmarked for emerging markets.

Dan Weiss, executive director and chief investment officer of the OHPRS told Mena FM: “We decided to increase our direct exposure to emerging markets as we feel like this is an area that is ripe for growth in the future.”

Weis added that the System has no further plans to increase its emerging market exposure in the future.

OFI Asset Management recently hired Silk Invest to manage a portfolio of Arab and African equities as part of its existing Multi Select BRIC Fund which has investments in Saudi Arabia, Qatar, the UAE, Morocco and Egypt.

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