Non-U.S. & Global Fixed-Income
The board added an international bond fund option to one of its retirement plans over two other strategies.
The foundation’s revised asset allocation creates a maiden global bond allocation while increasing its targets to domestic fixed-income, real assets and domestic large-cap equity.
The plan’s incumbent managers were first hired in 2016.
The pension fund approved the staff recommended RFP last week.
2023 was supposed to be a down year for foundations and endowments with a potentially recessionary environment, however, equity and bond returns came out in the green, thanks in part to strong fourth quarters, leaving investors and allocators with a more optimistic outlook for their portfolios entering 2024.
The pension fund’s 3% portfolio to the asset class is currently held in an index fund.
The pension fund is seeking one or more private equity secondaries products diversified by underlying fund strategy and geographic focus.
The plan selected the managers at a meeting today following RFPs issued in April.
The firm will manage a hard currency mandate for the plan following the issuance of an RFP in the second quarter.
Plan is eyeing searches for active emerging market debt and private markets secondaries strategies following initial discussion earlier this month.
