Cash/Currency
The institution approved venture capital commitments to a firm that marks a new relationship and terminated a hedge fund manager for liquidity purposes and being overweight its targets to the strategies.
The university will consider adding a currency overlay manager to take active positions in currencies and a venture capital strategy this week after increasing its target to the asset class in late 2022.
The plan’s former executive director has retired.
The university wrapped up its fixed-income manager search from the third quarter by rehiring the incumbent firm.
The relative strength of the U.S. dollar in recent months has industry experts feeling it is an opportune time for some institutions to expose their portfolios to currency hedging.
The hire concludes an RFI that was sent to seven overlay managers in September.
The trust is seeking an investment manager and a money market provider.
The selected manager will handle approximately $373 million.
The plan approved a futures overlay manager search to remove its cash drag and also hired a new infrastructure manager yesterday.
The plan replaced the cash overlay provider for its Commingled Trust Fund and approved two private equity commitments yesterday.