Asset Study/Review
The plan’s existing high-yield fixed-income managers had been on watch for performance reasons.
The plan will issue an RFP later this year due to statutory requirements.
The plan also eliminated its global equity and emerging market debt targets.
The university committee, which advises on responsible investment decisions, decided not to refer a divestment proposal to rid the endowment from companies with ties to the State of Israel to a board of trustees subcommittee for consideration.
The pension plan hired a domestic core fixed-income manager after increasing its target allocation to the asset class in the second quarter.
The university has rejected student requests to join the boycott, divest and sanctions movement and divest its endowment from companies that do business in or are located in Israel.
The plan also received asset/liability stress test results from project-basis consultant Agilis at today’s board meeting.
The college’s board of trustees decided against a student proposal to divest its endowment from military and surveillance companies.
Several nonprofit institutions changed their asset allocations or investment policies this year, boosting allocations to private equity and public equities.
The pension plan approved a new asset allocation for its Core Trust Fund this week.