Equity
Nonprofit investors and allocators are tempering expectations for their portfolios in 2026 as they prepare for more moderate returns resulting from increased volatility and heightened valuations along with persistent macroeconomic and geopolitical uncertainties.
The retirement fund also terminated a global equity manager-of-managers and made commitments totaling $695.6 million in October.
The organization selected the final three managers in its search for debt and equity funds that align with its financial return objectives and impact priorities.
The incumbent domestic small-cap growth equity manager had been on watch due to personnel changes and underperformance.
The retirement fund also disclosed commitments totaling $1.1 billion in September.
The university added an investment in an international equity strategy that aims to provide long-term returns in excess of the MSCI EAFE index this quarter.
The plan received a work plan at last month’s board meeting that included an RFP to be issued this month.
The plan replaced a domestic large-cap equity fund with a social index fund as the previous manager had been on watch for performance concerns.
The retirement system also hired an international all-cap growth equity manager and four infrastructure managers this week.
The plan will put three mandates out for bid next year.