International / Global / Emerging Markets
The plan will make a decision on its ongoing long/short hedge fund search.
Institutions have begun to reevaluate their investment in the world’s second largest economy as they weigh a multitude of factors related to either increasing or reducing their exposure, including geopolitics, diversification and market uncertainties.
The university updated the fund’s asset allocation targets on the heels of several manager hires earlier in the year.
The hires conclude a search first approved in June.
The termination resulted from a public equity structure review presented by its general investment consultant on Wednesday.
The plan retained two managers based on the recommendation of its general investment consultant.
The pacing plan will commit a total of $825 million to real assets and private equity strategies.
The plan is conducting the search due to the April 2023 contract expiration of its incumbent, which was rehired in 2018, 2013 and 2008 following similar searches.
Review of broad international equity portfolio will come as plan has kept an eye on the underperformance of an emerging markets equity manager.
The searches are being conducted to comply with state procurement laws.