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IFM Investors recently signed a new investment contract with the School Employees Retirement System of Ohio (SERS).
At its April 16-17 meeting, the SERS Investment Committee approved a $200 million investment with IFM's Global Infrastructure Fund.
SERS' investment in real assets will be funded from cash reserves, according to a recently released April meeting summary.
SERS is looking to improve the risk and return characteristics of the overall portfolio with this investment.
As of February 28, the more than $12.2 billion retirement system had roughly 10.3% of its more than $12.2 billion portfolio committed to global real assets. Asset allocation targets 12% for global real assets.
IFM has invested in core infrastructure assets globally since 1995. IFM's Global Infrastructure Fund opened to the wider international investor community in 2009. It allocates capital to hold core infrastructure investments with a net target portfolio return objective of 10% per annum. In 2012, IFM's Global Infrastructure Fund exceeded its return objective, delivering a net return of over 11% to investors.
In January 2013, the fund had raised money from 27 institutional investors in North America, including among others: California State Teachers' Retirement System (CalSTRS); Florida State Board of Administration; Massachusetts Mutual Life Insurance; Maine Public Employees Retirement System; NAV CANADA Pension Plan; and, the Virginia Retirement System.