Equity
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.
The actively managed strategy is part of a new series of mutual funds and accelerates the firm’s ongoing strategy to expand its in-house intermediary distribution network in the U.S.
The program has adopted a proposal from its state treasurer to transition the emerging markets investment option in its select plan to a fund that excludes investments in China-based companies due to ongoing geopolitical tensions and significant investment risks.
The plan terminated its emerging markets equity allocation amid a “challenging environment” for the asset class.