Equity
The asset classes were recommended by the OPEB trust’s new general investment consultant.
The foundation switched to a large-cap core equity strategy with its existing manager from the firm’s dividend growth oriented strategy in an effort to create a more stable and diversified portfolio.
The foundation revised its target asset allocation in favor of equities at its September investment committee meeting.
The university revised the asset allocation of the policy portfolio for its endowment in fiscal year 2024, increased its weight to public equity at the expense of private partnerships.
The plan is set to conduct searches for domestic large-cap growth equity, mid-cap value equity, private markets and co-investment managers due to expiring contracts.
The pension plan replaced its global large-cap growth equity and domestic core-plus fixed-income managers in the second quarter.
The manager hire concludes a domestic all-cap equity index manager search, which the program launched in March.
Proposed structure would shift the allocation closer to its MSCI All Country World Index ex USA benchmark and increase active management to 70% from approximately 40%.
The retirement system authorized its cio to terminate several public markets investments last month.
The searches result from a new domestic equity structure.