Oregon Investment Council Awards $2 Billion Equity Mandate
Posted on 10/01/2014
The Oregon Investment Council (OIC), which manages the Oregon Public Employees Retirement Fund (Oregon PERS), awarded a US$ 2 billion mandate to Dimensional Fund Advisors. The mandate is for a domestic, large-cap core equity allocation. OIC was able to negotiate a lower management fee, which was already less than the average active management fee the fund pays other large-cap managers. Furthermore, the OIC has the option to augment the mandate to US$ 4 billion subject to the chief investment officer’s approval.
In the past, the OIC has approved 5 mandates from Dimensional Fund Advisors.
Oregon PERS’ general consultant is Callan Associates. The OIC manages around US$ 66.5 billion in assets with a target of 37.5% allocation to public equity.