The university will remove investments in energy companies with high carbon emissions and seek out and support investments in technologies that accelerate the transition to a carbon-free energy future.
The university is planning to conduct a strategic asset allocation study later this year after it terminated a global bond mandate and reallocated the funds to short-term bond and growth equity funds this month.
The foundation hired a new finance head to oversee investment management, finances and accounting after its v.p. of finance left earlier this year for another opportunity.
The 529 plan increased its cash target in anticipation of significant cash outflows over the next two years with funding coming from reductions to fixed-income and public equities.