The plan has issued an RFP seeking an investment consultant to oversee and advise on its assets due to the Aug. 31 contract expiration of its incumbent provider, which is allowed to rebid.
All participating institutions had more than 5% of their U.S.-based assets with diverse-owned firms, however, more than two thirds of the wealthiest 25 private and 25 public college and university endowments refused to participate in an assessment of the diversity of their asset managers.
The fund will consider approving a new strategic asset allocation for its portfolio as well as review the cost and benefits of hedging the fund’s oil and gas revenues as requested earlier this year.
Consultant will assist in the administration of its 529 plans due to the upcoming contract expiration of its incumbent provider, which has been providing the services for more than a decade.