Asset Study/Review
The plan may conduct a search to replace its passive core fixed-income manager next year following an asset allocation study.
The university updated the fund’s asset allocation targets on the heels of several manager hires earlier in the year.
The fund is looking for multi-family real estate specialist managers as it looks to transition some of its portfolio’s overweight industrial exposure to multi-family real estate.
The university is looking to invest $300 million of its short-term working capital in the debt securities of high-performing companies that meet a certain ESG rating threshold.
New policy expands investment options with new minority and women business enterprise and ESG options.
The plan approved its consultant’s recommendation to implement new equity asset class target weights approved in September.
The plan eliminated its $1.4 billion internally managed global REIT allocation to meet the objective of its real assets portfolio.
The university will consider revising the target asset allocation for its model portfolio, including increasing the allocations to venture capital and private equity and natural resources, this week.
The elimination will affect three managers that handle a total of more than $1.7 billion.
The plan disclosed $1.1 billion in total commitments with three new managers and ten existing managers in the fiscal first quarter.
