Asset Study/Review
The plan will look to add private credit, re-establish its private equity portfolio, add complementary real estate strategies and evaluate its domestic equity portfolio this year.
The new targets include the elimination of an emerging market debt allocation.
The university also pivoted one of its retirement plans toward fixed-income during the fourth quarter.
The changes followed two separate asset/liability studies from general investment consultant
Verus.
The changes followed two separate asset/liability studies from general investment consultant Verus.
The plan hired a short-term bond manager and retained its general investment consultant.
The university revised the asset allocation for the policy portfolios of two of its asset pools, increasing the allocations to global equity through a consolidation of its public real assets position.
The plan adjusted its asset allocation policy to reflect its progress toward an 11% long-term private equity target and also approved two commitments in September.
The new structure introduces a target to short-duration fixed-income and eliminates the plan’s passive core fixed-income target.
The plan recently increased its domestic equity targets by reducing its floating rate corporate loans target.