Asset Study/Review
The retirement system also selected finalists in its domestic core fixed-income manager search today.
The corporation revised its investment policy statement, including a new strategic asset allocation that increased targets to domestic large-cap equity, non-U.S. developed equity, absolute return, private debt, infrastructure and cash.
The fund and its general investment consultant will consider segmenting the fixed-income allocation into core investment grade and return-seeking credit.
The board increased its targets to domestic fixed-income and real estate as part of a new asset allocation policy last month.
The foundation is conducting an asset allocation review of its endowment alongside its new investment advisor, which was hired late last year following a search for standard due diligence purposes.
The city expects to issue an RFP and evaluate proposals by the plans’ May 7 board meeting.
The retirement system terminated its sole public diversified real assets manager last month.
The retirement fund approved increases across private equity, private credit, private value-add real estate, MLPs and marketable alternatives this week.
The pension board will also target $1 billion to non-traditional equity strategies.
The system approved revising the asset allocations for its endowment and liquidity pools after reviewing the allocation strategies for both pools in recent months.