Asset Study/Review
The review may lead to replacement searches for two incumbent managers.
The fund will consider new 2024 fiscal year strategic asset allocations that would increase its allocations to private equity and directional hedge funds, among other asset classes.
The plan hired a manager to implement its maiden 3% target to private debt as part of a new asset allocation policy in March.
The new asset allocation includes slight increases to several portfolios.
The fund approved a revision to its investment policy statement to lift its prohibition of privately placed securities as requested by one its international large-cap equity managers and recommended by its general investment consultant.
The fund is expected to notify one of its managers of its placement on the state’s initial list of 13 financial institutions that are banned from state contracts due to their boycotts of fossil fuel companies or failure to reply to a questionnaire.
The university will transition to a new core investment menu in early June for its defined contribution plan, 403(b) plan and student employee retirement plans with a sole administrator handling oversight.
The healthcare system selected a new consultant to oversee its operating and pension funds following a search from last year and the firm will conduct an asset allocation study in its first year of engagement.
The university updated the 2023 fiscal year investment policy targets for its endowment, increasing its targets to private equity and absolute return.
The program approved changing an underlying emerging market det fund within its lineup due to outperformance and its investment consultant’s bias toward active management in the less efficient asset class.