Asset Study/Review
The retirement system introduced TIPS and eliminated its low volatility and public real assets targets as a result of a new asset allocation policy.
The new structure will result in manager terminations and searches.
The retirement system’s existing consultant will see its contract expire on Dec. 31.
The pension plan approved a new asset allocation policy that introduced five targets in the fourth quarter.
Endowment boards need to have expectations as to how asset allocation and positioning is going to impact short-term results, an interim CIO at a university said, during a conference held in Miami this week.
The school decided against divesting its endowment from companies and industries implicated in military and police violence in Gaza and the West Bank as the portfolio had a de minimis exposure to identified stocks.
The pension plan will also consider candidates in its executive director search next month.
The retirement system also kicked off its asset/liability study this week.
The plan’s board voted to commit additional funds to an existing manager and also hire a new manager for the increased allocation.
The foundation is reviewing the target asset allocation of its largest investment pool as well as reviewing the fixed-income manager roster within another pool of assets.