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STRS Ohio Smarttalk Newsletter

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STRS Ohio Smarttalk Newsletter Quarterly investment newsletter for STRS Ohio members participating in the Defined Contribution and Combined Plans SUMMER 2021 STRS Ohio’s Fiscal 2022 Investment Plan calls for returns near expected policy return of 6.84% in the year ahead STRS Ohio Investment staff presented its Investment The Retirement Board’s investment consultants, Callan LLC Plan for the 2022 fiscal year at the June Retirement Board and Cliffwater LLC, reviewed and expressed support for meeting. The plan details staff’s investment strategy for the Investment Plan. The plan is available on the STRS Ohio each asset class in the system’s total fund. Fiscal year 2022 website at www.strsoh.org. STRS Ohio’s plan and forecast began on July 1 and runs through June 30, 2022. The fiscal is designed for a large institutional investor and may 2022 Investment Plan projects a combined overall return not be appropriate to an individual investor’s portfolio among all asset classes to be near STRS Ohio’s expected allocation, time horizon or risk tolerance. Like all economic policy return of 6.84% (assuming the total fund’s current forecasts, it should not be relied upon as an indicator of allocation). The plan forecast calls for a growing U.S. future results. For more personalized assistance, you can economy and for inflation to remain within a tolerable reach a Nationwide Retirement Solutions (NRS) Retirement range during the fiscal year. Specialist toll-free at 866-332-3342. Review your asset allocation Investment Style Asset Classes (allocation) ■ Cash 30% following strong equity market returns ■ Bonds 40% Domestic and international equity returns have been exceptionally CONSERVATIVE ■ Large-cap stocks 16% ■ Mid-cap stocks 4% strong for over a year now. If you have a portion of your assets allocated ■ Small-cap stocks 1% to equities, you have likely seen growth in that portion of your portfolio. ■ International stocks 9% This strong performance can result in an unplanned overweight to ■ Cash 17% equities. This may be a good time to double-check your asset allocation ■ Bonds 38% to be sure it reflects your investment goals and risk tolerance. MODERATELY ■ Large-cap stocks 23% CONSERVATIVE ■ Mid-cap stocks 6% When you established your defined contribution account, you may have ■ Small-cap stocks 2% ■ International stocks 14% used the questionnaire in our Investment Options Guide to help identify your investment style and asset allocation strategy. The questionnaire ■ Cash 12% was developed by Wilshire Associates — a nationally recognized ■ Bonds 28% ■ Large-cap stocks 30% investment management firm, and based on your answers, you may MODERATE ■ Mid-cap stocks 7% have identified your investment style as conservative, moderate or ■ Small-cap stocks 4% aggressive. ■ International stocks 19% Wilshire provides five potential sample portfolios that spread holdings ■ Cash 7% across general asset classes. This can serve as a guide as you pursue ■ Bonds 18% MODERATELY ■ Large-cap stocks 37% your own allocation strategy. Since asset values change over time, AGGRESSIVE ■ Mid-cap stocks 9% it may be worth a review of your portfolio again. You can access the ■ Small-cap stocks 5% ■ International stocks 24% questionnaire at https://www.strsoh.org/_pdfs/guides/20-608.pdf. For more information about asset allocation, you can reach the ■ Cash 3% ■ retirement specialists at Nationwide Retirement Solutions (NRS) toll-free Bonds 7% ■ Large-cap stocks 44% AGGRESSIVE at 866-332-3342. NRS representatives are available Monday–Friday from ■ Mid-cap stocks 11% 8 a.m. until 6 p.m. ■ Small-cap stocks 5% ■ International stocks 30% Investment choice profile This quarter’s SmartTALK profiles the STRS Russell 1000 Index Choice. Investor’s The STRS Russell 1000 Index Choice is an allocation choice that is intended to closely match the return of the Russell 1000® Index before fees. The Russell 1000® Index is comprised of CORNER approximately 1,000 U.S.-based companies selected for their large market capitalization, liquidity and industry classifications. Companies in the Information Technology, Consumer Discretionary, Health Care, Financials and Industrials sectors make up about 75% of the Index. Top holdings include Apple Inc., Microsoft Corp., Amazon.com Inc., Facebook Inc. and Alphabet Inc. Intermediate and long- term performance figures for this and all allocation choices are provided on theInvestment STRS Target Performance Report. Choice Many experts agree that as your STRS Ohio Quarterly Investment Performance retirement date draws near, a for Defined Contribution and Combined Plans gradual move to lessen the risk April 1, 2021–June 30, 2021 in your portfolio makes sense. STRS Ohio offers eight Target Choice allocation options that 14% do just that. These options are blended portfolios with a 12% 11.99% mix of fixed income, domestic and international equities 10% and real estate. Each of these options targets a date in the 8.52% 8% % 7.48% future that would roughly 7.37 6.84% 6.84% 6.84% 6.84% match a participant’s expected 6.45% 6.06% 6% 5.66% 5.62% retirement date. As the target 5.44% 5.27% date approaches, the investment 4.27% mix becomes more conservative, 4% Index, 7.50% Index, ® Index, 4.29% Index, shifting to a greater exposure 8.54% Index, 8.54% Index, ® ® ® % to fixed-income securities and 1.95 2% a reduced exposure to equities in an effort to reduce volatility. % 0.01 Index: FTSE NAREIT Equity REIT, 12.02% REIT, NAREIT Equity FTSE Index: Index: Russell 1000 Index: Russell 1000 Index: Index: Russell MidcapIndex: Russell 2000 Index: Index: MSCI World ex US, 5.65% ex World MSCI Index: USA, 5.47% MSCI ACWI Index: ex Index: 90-day U.S. Treasury bill, 0.00% bill, Treasury 90-day U.S. Index: You can learn more about 0% 1.96% US Universal, Barclays Bloomberg Index: STRS STRS STRS STRS STRS STRS STRS STRS STRS STRS STRS STRS STRS STRS STRS STRS STRS these Target Choice options Money Bloomberg Large- Russell Russell Russell MSCI MSCI REIT Target Target Target Target Target Target Target Target on the STRS Ohio website at Market Barclays Cap Core 1000 Midcap 2000 World ACWI Index Choice Choice Choice Choice Choice Choice Choice Choice Choice U.S. Universal Choice Index Index Index ex USA ex USA Choice 2025 2030 2035 2040 2045 2050 2055 2060 www.strsoh.org, and you can Bond Index Choice Choice Choice Index Index Choice Choice Choice discuss your investment strategy with a retirement specialist at Nationwide Retirement Solutions All STRS Ohio performance figures noted above are net of fees. by calling toll-free 866-332-3342. ask What are benchmarks? A benchmark is a standard — usually an unmanaged index — used for comparative purposes in assessing an allocation choice’s performance. Major U.S. stock indexes include the Russell 1000® Index and the Standard & Poor’s (S&P) 500 Index. Investors cannot invest directly in an index. STRS Ohio uses several “index choice” allocation options that are designed to closely match the return (before fees) of a particular market index (e.g., STRS Russell 1000 Index Choice or STRS MSCI World ex USA Index Choice). STRS Ohio lists a benchmark along with each allocation choice on the quarterly Investment Performance Report for comparative purposes. 60-690, 7/21/24M Q-661-721.
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