Equity
The retirement plan also terminated a core-plus fixed-income manager.
The university revised its asset allocation and added international equity and private equity managers in the fourth quarter as recommended by its general investment consultant.
The trust will also consider a core-plus real estate manager in May.
The plan now has two active managers in its global equity portfolio.
The university added a new global public equity investment and a private equity commitment with existing managers within its endowment in the fourth quarter.
The plan expects to add eight additional non-U.S. equity managers over the next two months.
The plan will also interview a finalist in its domestic large-cap core equity manager search next month.
The plan interviewed a total of four finalists at a board meeting yesterday.
Performance of the largest endowments generally trailed that of their smaller counterparts for the second year in a row due to a lack of exposure to the U.S. equity markets and large technology companies, according to new research from an investment consultant.
The plan hired a new international equity manager at its meeting last week.