Asset Study/Review
The institution added a floating rate fixed-income fund within its short-term pool and reduced its investment with a hedge fund manager to fund increased domestic equity and international equity investments within its endowment.
The trust company is looking to commit $150 million to $625 million annually to alternative assets, including alternative fixed-income, hedged equity and private debt, within its endowment.
The university approved adding a new portable alpha portfolio in one of its main portfolios after first reviewing the consideration in September.
The plan’s investment consultant will continue to monitor the strategy’s short- and long-term performance.
The college is preparing to significantly increase its endowment to $750 million with a matching gift from an anonymous donor.
The plan will receive a private equity pacing model in February.
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.