Asset Study/Review
The retirement system agreed to hire a new discretionary private equity consultant while maintaining the incumbent consultant for discretionary private real return services.
The university also added a hedge fund manager and redeemed from an international equity manager within its endowment in the third quarter.
The college approved a new investment policy statement that included a directive to divest direct exposures to weapons manufacturers.
The plan also delegated investment authority to its executive director.
The plan terminated its previous consultant less than one year into its contract.
The fund anticipates increasing its private equity pacing plan in the coming months as recommended by its general investment consultant.
The university recently revised the target asset allocation for its long-term reserves portfolio, increasing its allocations to domestic and international equity.
The plan is also considering adding risk mitigating strategies.
The pension plan hired two infrastructure managers as the result of a newly approved asset allocation policy in the second quarter.
The fund is reducing its private markets pacing as it is increasing its distribution rate.