Domestic Equity
The university is set to allocate more to domestic stocks and private equity within its largest endowment portfolio after revising its target asset allocation last week.
The plan was slated to approve two active domestic mid-cap equity manager terminations at a meeting this week.
The plan is looking to hire one manager that is benchmarked against the Russell 2500 Index.
The pension plan has replaced its domestic core-plus fixed-income manager due to personnel changes and underperformance.
The pension plan has replaced its incumbent domestic small- to mid-cap value equity manager, which had been on watch.
The plan recently terminated three equity managers and made private markets commitments totaling $95 million.
The plan launched two manager searches after approving a new asset allocation last month.
The city’s OPEB and scholarship plans are also searching for a U.S. small-cap core equity manager.
The plan’s outsourced cio hired global large-cap growth equity and Russell 2000 Index fund managers in the first quarter.
The search is required by state statute and the incumbent mid-cap core manager is Davenport Asset Management.
