Domestic Equity
The nonprofit hired a new active domestic large-cap equity manager last month after deciding to move away from passive equity management this summer.
The plan is conducting the searches to comply with state procurement law.
The university system has added a fossil fuel-free passive index strategy to align with its recent mandate to divest its portfolios of direct and indirect investments in fossil fuels.
The plan moved a portion of its mid-cap value assets to the new small- to mid-cap value manager.
The plan will receive a recommendation to restructure its equity portfolios at a meeting this week, including terminating managers.
The university approved terminating an active domestic large-cap value equity mandate and transitioning the assets to two passive index strategies alongside plans to ask the state legislature to create a $1 billion permanent endowment.
The plan concluded a search that began in October due to underperformance and personnel changes at its incumbent.
The plan’s incumbent manager will be interviewed along with three other finalists.
The university system is considering adding a fossil fuel-free passive index strategy to align with its recent mandate to divest its portfolios of direct and indirect investments in fossil fuels.
The trust’s incumbent U.S. small-cap growth equity manager ceased operations.