Asset Study/Review
The plan will consider active core and core-plus fixed-income manager hires in May as a result of a new asset allocation that also eliminated its 2.5% risk parity target yesterday.
The university adjusted its investment policy to allow for increases to its equity portfolio following a recommendation from its investment advisor to diversify and enhance portfolio returns.
The board will consider hiring a new public markets consultant later this month.
The plan increased its target allocations to credit and hedge funds last month and recently approved three commitments totaling $125 million.
The plan’s incumbent was first hired in 1997.
The plan adopted a new asset allocation policy after receiving an asset/liability study in October.
The plan approved commitments of up to $40 million each to two strategies.
The plan introduced new investment grade credit and private credit allocations as part of changes resulting from an asset/liability study.
The plan will look to add private credit, re-establish its private equity portfolio, add complementary real estate strategies and evaluate its domestic equity portfolio this year.
The new targets include the elimination of an emerging market debt allocation.