Cash
The university has issued an RFP seeking firms to invest its cash reserves in low-risk liquid investment instruments after conducting a similar search in 2016.
Authority has issued yearly RFQ for investment management services.
The firms plan to form a joint venture combining their cash equities and equity research businesses to provide investment insights into the American, European and Asia Pacific equity markets as well as liquidity access and leading global trading technology.
The hire concludes an RFI that was sent to seven overlay managers in September.
The selected manager will handle up to $15 million.
The religious institution hired a new bank custodian for its investment fund and socially responsible investment fund.
The pilot program is expected to launch in mid-October and implementation is slated for January.
The plan approved a futures overlay manager search to remove its cash drag and also hired a new infrastructure manager yesterday.
The 529 plan increased its cash target in anticipation of significant cash outflows over the next two years with funding coming from reductions to fixed-income and public equities.
Program is seeking up to two firms to handle four investment options.