Equity
The foundation added an investment in a global equity strategy focused on environmental sustainability, marking the first institutional investor commitment for the fund.
The termination follows a recent downgrade from the plan’s investment consultant.
Many nonprofit investors, investment advisors and managers agree that an active equity strategy that can invest in China is the key to capturing returns above U.S. equities.
The firm will now manage approximately $40 million in the plan’s main portfolio.
The plan first hired the domestic large-cap growth equity manager in 2012.
The plan hired two separate account managers for its global equity emerging manager program after increasing the program’s allocation range this week.
The plan increased the allocation range for its global equity emerging manager program by 5% this week.
The college savings plan removed an international equity manager from watch status after four years due to improved performance.
The university is considering a proposal to increase its asset allocation targets to global equity and private equity.
The new cio began earlier this month and is based in Switzerland.