Asset Study/Review
The revisions see the foundation pivoting its investment portfolio further toward growth-oriented investments, including public and private equity.
The plan’s consultant will also kick off an asset/liability modeling study this month.
The university moved its endowment toward private equity, U.S. equity, global equity and hedge funds, as part of a new investment policy statement approved at its November meeting.
The decision comes despite pressures from students, staff and the larger university community regarding the investment and management of the portfolio.
The plan’s options could range from minor tweaks to the addition of private equity and emerging markets equity allocations.
The plan also approved conducting a search for a non-discretionary private markets consultant.
The plan opted to retain its incumbent for an initial five-year term.
The foundation revised its investment policy with a new target asset allocation range in fiscal year 2024, creating new dedicated target asset allocation ranges for domestic and international equity as well as real estate, while breaking out private assets from its alternative strategies allocation.
The plan will allocate 10% of its portfolio to risk mitigating strategies as part of a new asset allocation.
The asset classes were recommended by the OPEB trust’s new general investment consultant.
