International / Global / Emerging Markets
The retirement system will conduct searches for domestic and global fixed-income and domestic and emerging markets equity managers.
The termination stems from underperformance and an asset allocation change.
The plan’s general investment consultant will search for a new active international equity manager in the near future.
The plan was scheduled to vote on an international equity manager termination this week.
The university also made redemptions from domestic and emerging markets equity managers.
The plan will fund the hires by terminating three existing firms.
The plan also reviewed proposed alternatives commitments of up to $995 million this week.
The retirement system also eliminated its target allocation to multi-asset class solutions last month.
The plan will also receive an international equity manager search report next month.
The search is to potentially augment or replace existing portfolio allocations.