Domestic Equity
The institution hired two domestic small-cap equity managers and added two venture capital commitments with existing managers at a meeting late last week.
The new manager will be partially funded by reducing the portfolio of the plan’s incumbent large-cap core manager.
The plan’s incumbent manager is currently on watch for performance reasons.
The plan asked its general investment consultant to prepare a search after an asset allocation discussion at today’s board meeting.
The plan increased its core bond target as part of asset allocation changes approved at last week’s meetings.
Stubborn levels of inflation and other factors like changing dynamics of geopolitics and global trade will make actively managed equities essential to navigating the market environment, according to a new survey.
Plan will replace a recently terminated core real estate manager.
The fund approved terminating a domestic large-cap growth equity manager due to underperformance and reinvesting the proceeds with an existing passive equity manager relationship late last year.
The education system will consider revisions to the target asset allocation for its portfolio as part of changes to its investment policy statement at a special meeting today.
The institution will come back with a recommendation on how to redeploy the assets from recently terminated public equity and hedge fund managers at a future meeting.
