Asset Study/Review
The plan approved eliminating its global asset allocation target at a meeting today.
The university has divested its endowment from direct investments in fossil fuel companies and has set a more ambitious target for reducing its carbon footprint after reaching its initial target almost a decade ahead of schedule.
The fund added the domestic small-cap equity manager to its watchlist this summer due to underperformance and will review the firm next year.
The plan will issue a general investment consultant RFP due to an upcoming contract expiration and conduct an asset allocation study to consider eliminating its risk parity asset allocation.
The plan disclosed several new commitments and is nearing a decision on a new asset allocation.
The foundation is considering a maiden alternatives allocation within its portfolio and weighing the addition of hedge fund, infrastructure and private debt investments to fund the allocation.
The plan will consider committing to an existing opportunistic real estate manager at today’s board meeting.
The plan will first issue the fixed-income and private equity RFPs in the next two months.
The university will now consider sustainability factors as part of its investment decision-making process after approving a new investment policy statement this summer.
The plan is in the early stages of evaluating its long/short equity, absolute return and fixed-income credit portfolios.