Domestic Equity
A state trust updated the target asset allocation for one of its portfolios, increasing its targets toward domestic and international equities.
The restructuring will next eliminate three more managers next month.
The institution increased its allocation to venture capital and domestic equity allocations last week through target reductions to diversifying investments, international developed equity and emerging markets equity.
Plan’s consultant will present report on the $8 million search in June or July.
The plan will receive a list of candidates at its June 25 board meeting.
The plan placed a firm on watch for failing to meet performance criteria and eliminated its REITs managers to reduce overall volatility within its real estate portfolio.
Plan added a maiden small-cap growth mandate with a new manager.
Plan made commitments to eight existing managers and one new manager last month.
New domestic small-cap core mandate will complement existing small- to mid-cap and value investments.
The university added domestic small-cap value equity and international value equity investments as well as a private real assets commitment this year, while redeeming from two hedge fund managers.