Equity
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.
The foundation is seeking an investment associate focused on public equity and fixed-income to assist in the development and implementation of portfolio strategies.
The pension recently added a sustainability-focused public equity manager alongside private equity and real estate commitments.
The firm has launched the strategy to carve out China from their emerging markets allocation and gain more exposure to smaller emerging market economies underrepresented in the main index.
The retirement system hired three global equity managers to replace its dedicated international and emerging markets equity allocations in the first quarter.