Asset Study/Review
The healthcare system is currently conducting asset allocation studies for its operating fund and pension plan after receiving an education from its investment consultant on new asset classes including, private equity, private debt and real estate at a November workshop.
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.