Asset Study/Review
Plan added a 3% target to private credit as part of broader asset allocation changes approved today.
The fund is reviewing its relationship with a firm that handles private energy, international equity and emerging markets mandates after the state comptroller directed entities to divest their existing holdings from financial companies that boycott energy companies.
The fund approved a new asset allocation for its portfolio as well as a private equity commitment to an existing manager relationship at its special board meeting last month.
The plan hired five multi-asset credit managers today as part of its previously approved return-seeking fixed-income structure.
The plan made the commitment alongside approving a 3% target to the asset class at today’s board meeting.
The firm is being monitored due to performance and recent personnel turnover.
The plan increased its floating rate debt and real estate targets to 20% each in the third quarter.
The university has moved to an outsourced cio model from its traditional non-discretionary investment consultant model to improve nimbleness and reduce risk.
The plan removed an exchange traded fund and international equity fund from its advisor plan late last month after being notified of upcoming changes to the investment manager’s strategies.
A university based in New England approved new allocation targets for two of its portfolios.