Asset Study/Review
The termination stems from lower than expected real returns and changes to the firm’s team.
The plan initially hired the core real estate manager in November as part of a search that was launched in 2022.
The foundation’s revised asset allocation creates a maiden global bond allocation while increasing its targets to domestic fixed-income, real assets and domestic large-cap equity.
The board of investments adopted new asset allocation policies for both the pension plan and OPEB trust at its meeting today.
The retirement system hired three global equity managers to replace its dedicated international and emerging markets equity allocations in the first quarter.
The pension plan received a recommendation from staff to amend its private equity sub-asset class targets last week.
The college will close next month after operating for 168 years after it was unable to obtain bridge funding from a state loan program.
The retirement system eliminated its 6% target to the asset class this week.
The plan will move the assets with the state investment trust.
The retirement fund also adopted a new asset allocation to take advantage of higher interest rates.
