The DivcoWest separate account will have a core-plus investment strategy. : Oregon Public Employees Retirement Fund (OPERF) has made a $250m (€221.1m) investment into a newly created US property separate account relationship with DivcoWest. The $76.6bn pension fund said in a meeting document that the separate account will have a core-plus investment strategy. Oregon PERF defines core plus assets as properties where the pension fund can achieve returns that are 50 to 100 basis points higher than where core returns are. The separate account expects to achieve returns in the range of 9% to 10% on a levered basis.