Equity
The university adjusted its investment policy to allow for increases to its equity portfolio following a recommendation from its investment advisor to diversify and enhance portfolio returns.
The board will consider hiring a new public markets consultant later this month.
The current consultant will see its contract expire this year.
U.S. foundation assets fell nearly $250 billion in 2022 and are now at their lowest level since December 2018.
The city’s deferred compensation and defined contribution plans replaced a domestic small-cap value equity manager today and its defined benefit plan will schedule finalist presentations in its large-cap growth search for next month.
The university approved private equity, real asset, international equity and fixed-income investments with new managers in the second half of 2022.
The university also pivoted one of its retirement plans toward fixed-income during the fourth quarter.
The fund has issued RFPs seeking equity and fixed-income managers.
The watch status is due to a co-portfolio manager’s abrupt departure from the firm.
The plan will consider multi-asset credit manager recommendations in March and terminated mandates with GMO and MetLife last week.