High-Yield
The university will consider adding a new manager to its endowment to handle a high-yield bond mandate through partial redemptions of two domestic large-cap equity managers.
The proposed portfolio structure would result in searches for core, credit, U.S. Treasury, emerging market debt, securitized products and bank loans.
The searches are part of an implementation plan for its newly increased target allocation to yield-driven strategies.
The searches are part of an implementation plan following approval of a new asset allocation in May.
The plan concluded its investment consultant and private investment consultant searches that began last year, retaining its general consultant and hiring a new private investment consultant.
The plan will hire one additional firm in its multi-credit asset class search.
The plan is seeking one or more managers to handle a portion of its short-duration pool.
The RFP will seek one or more short-duration high-yield fixed-income managers.
Pension plan expects to review approving a search for international small-cap equity managers next month.
Pension division issued an intent to award notice in a high-yield fixed-income manager search launched in 2021.