Asset Study/Review
The fund revised the investment policy statement and asset allocation for its portfolio in the second quarter, consolidating its private real estate and private real assets allocations.
The plan also upped its infrastructure target as part of asset allocation changes approved last quarter.
The fund may consider revising its investment policy statement and asset allocation following discussions with its general investment consultant at its August board meeting.
The university has increased its targets to private equity and real assets at the expense of global equity and marketable alternatives to improve its portfolio’s return and risk profile.
The fund expects to receive recommendation from staff and its general investment consultant to hire extended equity 130/30 and multi-strategy hedge fund managers after approving a new asset allocation at its July board meeting.
The college increased its endowment toward private equity and venture capital and increased its long-term ranges to the asset class for a second consecutive year.
The plan’s new private markets allocation will consist of one-third private equity, one-third private debt and one-third real estate/real assets.
The searches are part of an implementation plan following approval of a new asset allocation in May.
A university based on the West Coast has completed divesting its endowment from fossil fuels after five years.
The fund will consider hiring an overlay manager to synthetically replicate its public credit benchmark and policy index after holding a second reading and considering adopting proposed changes to its investment policy statement and strategic asset allocation.