The plan increased its core bond target as part of asset allocation changes approved at last week’s meetings.
The plan authorized two private equity fund-of-funds searches and terminated two managers within its diversified strategies portfolio as the result of a new asset allocation policy.
The plan’s incumbent manager was first hired in 2004.
The plan committed $8 million each to a private equity fund-of-funds and a managed income strategy in October.
The plan hired a global tactical asset allocation manager at its May meeting.
The plan approved consolidating management of its $51 million global tactical asset allocation portfolio yesterday.
The plan voted to reduce the managers handling its global tactical asset allocation portfolio from three to two at a meeting yesterday.
A recent survey finds that endowments and foundations expect to continue increasing their allocations to alternative investments.
The hire is a result of a new asset allocation adopted last month.
Plan intends to approve an RFP for a index fund provider next month and terminated a global tactical asset allocation mandate at today’s meeting.
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