Ohio Pension Fund Adds Gold Allocation to Hedge Risk, Inflation

The $16 billion <-bsp-bb-link state="{"bbHref":"bbg://securities/8167895Z%20US%20Equity","_id":"00000174-35b1-dba9-adfc-b5b91d1c0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Ohio Police & Fire Pension Fund approved a 5% allocation to gold to help diversify its portfolio and hedge against the risk of inflation.

The change was approved as the first step in an ongoing asset review that was presented to the board on Aug. 26, the fund said in a statement.

The OP&F move comes as gold’s climbed to an all-time high this year helps win over a <-bsp-bb-link state="{"bbDocId":"QE8AO7DWLU7A","_id":"00000174-35b1-dba9-adfc-b5b91d1e0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">wider base of pension funds, insurance companies and private wealth specialists. The surge means the non-interest-bearing metal is producing returns while some <-rte-company state="{"_id":"00000174-35b1-dba9-adfc-b5b91d1e0001","_type":"00000160-4b23-d8bd-adfd-4b3348fd0000"}">$14 trillion in debt offers negative ...