Ohio Police and Fire Pension Fund approves 5% gold allocation
“OP&F and Wilshire [Assets] 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.”
USAGOLD note: Perhaps the first of many such announcements …… Wilshire Assets is the fund’s general investment consultant. The fund’s portfolio is valued at $15.65 billion, according to a recent investment note. A 5% allocation to gold, if achieved, would amount to roughly $800 million at $2000 per ounce – about 400,000 ounces or 12.5 tonnes – and the Ohio Police and Fire Pension Fund is just a small slice of the $22.4 trillion pension fund universe (in the United States alone).
Pension fund total assets
(United States, 2002-2018)
Chart courtesy of Statista.com • • • Click to enlarge