Asset Study/Review
The new asset allocation includes a 5% private credit target.
The retirement system also made several changes to its public equity and real estate portfolios last week.
The retirement system will also consider several changes to its public equity and real estate portfolios this week.
The fund reviewed proposed changes to the target asset allocation for its trust funds portfolio last month, including increases to private equity, public equity and private infrastructure.
The pension plan approved a new asset allocation policy that increased its targets to core bonds and international large-cap equity in the second quarter.
The investment board disclosed a domestic small-cap core equity manager termination and private markets commitments totaling $95 million today.
The fund narrowed a search for emerging markets large-cap ex-China equity managers to two finalists at the end of the second quarter.
The plan reviewed proposed allocation mixes that add a dedicated high-yield bond target while significantly increasing intermediate grade core-plus fixed-income, both of which would result in searches for new managers.
The retirement system’s outsourced cio recently terminated a global large-cap core equity manager due to underperformance.
The foundation increased its large cap growth equity fund’s allocation to an incumbent manager that utilizes a research-based investment process in quality growth companies.