Asset Study/Review
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.
The university revised the investment policy for its short-term investment pool, broadening the investment guidelines to allow more flexibility to invest in short maturity, higher yielding U.S. government bonds and increasing the amount of commercial paper that can be held.
The university added a U.S. Treasury strategy after its investment consultant conducted a search to fill a maiden 5% target approved in the first quarter.
The fund will conduct searches for a U.S. large-cap growth equity manager and a global equity manager with a tilt toward either core or value stocks after approving a new asset allocation at its May board meeting.
The plan will discuss potential real estate and infrastructure allocations at its August board meeting after opting to redeem from its core real estate manager yesterday.
The plan amended its five-year asset allocation plan to include a maiden target to tactical opportunities and approved three pacing plans in alternatives asset classes last week.
The university is helping devise an ESG-related investment policy for its affiliated foundation, as the institution weighs a pivot toward illiquid strategies within its endowment in June.
