Equity
The search is required by state statute and the incumbent mid-cap core manager is Davenport Asset Management.
The university will consider adding global equity strategies with two firms within its portfolio to eliminate fossil fuel exposures within the portfolio’s equity allocations.
The retirement system could not come to an agreement with its previously hired manager.
The pension plan hired five non-U.S. equity managers and approved a new private equity portfolio structure last week.
The fund has added fixed-income, bank loan, international equity and private equity investments to its endowment in recent months as it builds toward a new strategic asset allocation adopted in the first quarter.
The firm has converted two of its mutual funds into actively managed exchange-traded funds to bolstering its ETF platform.
The fund is seeking a new international small-cap equity manager after approving a new international equity structure at its board meeting in the first quarter.
The university will consider a new target asset allocation that increases its target to developed markets equity at the expense of emerging markets equity.
The pension plan will consider hiring five non-U.S. equity managers and approving a new private equity portfolio structure this week.
The pension plan liquidated its approximately $1.9 billion global equity mandate and made commitments totaling $1.6 billion in March.