Cash/Currency
The crypto index is designed to track a wide range of companies and digital assets connected to the crypto ecosystem, combining cryptocurrencies and publicly traded crypto-linked equities into one index.
The university has invested nearly $5 million in a bitcoin exchange traded fund, for which it has sole voting authority.
The university has partnered with a bitcoin native financial services company to launch the first long-term endowment fund held in bitcoin.
The internal investment pilot is part of the board’s efforts to enhance investment outcomes.
The fund is slated to receive a cryptocurrency education presentation from an asset manager at this week’s board meeting.
The university has allocated approximately $15 million to a passive strategy that invests in the Bitcoin digital asset.
The pension plan hired two equity managers and replaced its existing money market manager in the second quarter.
2023 was supposed to be a down year for foundations and endowments with a potentially recessionary environment, however, equity and bond returns came out in the green, thanks in part to strong fourth quarters, leaving investors and allocators with a more optimistic outlook for their portfolios entering 2024.
The university revised the investment policy for its short-term investment pool, broadening the investment guidelines to allow more flexibility to invest in short maturity, higher yielding U.S. government bonds and increasing the amount of commercial paper that can be held.
The university approved adding a currency overlay manager and a venture capital strategy to its long-term portfolio last week.