Equity
The 529 plan added a domestic large-cap growth equity strategy to its watchlist last month because of underperformance compared to its benchmark for the quarter, one-, three- and five-year periods ending March 31.
The board hired a new domestic mid-cap growth equity manager following finalist interviews held last week.
The plan has replaced emerging markets equity manager Newton Investment Management, which it had been monitoring.
The foundation will search for impact investments after adopting an ESG-integrated and impact investment strategy to mitigate the negative impacts of climate change.
The board terminated three managers to “harmonize” the equity portfolios between its plans.
The institution approved increasing its investment with an existing equity manager for the third time in over a year after first hiring the firm in early 2020.
The plan terminated its international small-cap equity manager after closed session discussions.
The new manager will complement the plan’s existing emerging markets core equity mandate with Wellington Management Company.
Plan is seeking one to three global ex-U.S. equity managers and agreed to restructure its opportunistic and alternative fixed-income portfolios this month.
The university is planning to conduct a strategic asset allocation study later this year after it terminated a global bond mandate and reallocated the funds to short-term bond and growth equity funds this month.
