Asset Study/Review
The 529 plan’s general investment consultant will conduct an asset allocation study this fall as it has been a few years since a review has been conducted.
The fund revised its target asset allocation at its board meeting last week, increasing its exposure to fixed-income and private debt at the expense of real estate and global tactical asset allocation.
The university expects its discretionary provider to conduct a review of its strategic asset allocation during the third quarter and a separate review of its global equity portfolio during the fourth quarter.
The college savings program added active bond strategies to replace two passive strategies to provide greater flexibility in country and security selection.
The plan will conduct searches in several fixed-income and credit sectors following a portfolio restructure stemming from an overall asset/liability study.
The plan opted to liquidate its 10% allocation and reallocate the proceeds to fixed-income.
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.