Asset Study/Review
The university approved fully redeeming a large-cap equity fund and reinvesting the proceeds with its other actively managed global large-cap equity strategy.
The plan eliminated its TIPS target as part of a new asset allocation policy approved in March.
The state trust fund approved a new asset allocation, increasing its fixed-income target at the expense of equities.
The university recently selected a new core bond manager to replace a recently terminated manager within its quasi-endowment.
The fund received educations on the two asset classes at its investment committee meeting last week as part of an ongoing asset/liability study.
The retirement system will also see its pension investment analyst depart on Friday.
The university has adopted a socially responsible investing policy that requires the institution to consider environmental sustainability and social justice factors in its investment decision-making.
The university is barring investment decisions that are based primarily on environmental or social factors in light of a new state law, while its outsourced cio looks to increase private real estate allocations.
The system will discuss an implementation plan for the new asset allocation policy next month.
The university has begun the process of absorbing a nearby Catholic college after acquiring another local college last year.