A Midwestern college savings trust authority has adjusted the underlying fund investment options for two of its plans, adding small-cap equity, emerging markets equity, core bond and real estate options.
The plans expect to issue a third-party administrator RFP in the second quarter and recently decided to replace emerging markets core equity manager Lazard Asset Management.
College and university endowments posted “dramatically higher” investment returns in fiscal year 2021, however, the institutions foresee inflation as a longer-term issue posing as a challenge to meet return targets, according to a recent study.