Fixed-Income
Some endowments and foundations are looking to emerging market debt, multi-asset credit and long-term bonds as a way to diversify their portfolios while also capitalizing on the macrotrends leading to a weaker greenback.
The plan will also receive an international equity manager search report next month.
The university also added a hedge fund manager and redeemed from an international equity manager within its endowment in the third quarter.
The search is required due to state procurement law requiring an RFP every seven years.
The plan terminated its previous consultant less than one year into its contract.
The retirement system also retained its three core fixed-income managers last week.
The pension plan also made two private equity commitments totaling up to $80 million in June.
The plan is also considering adding risk mitigating strategies.
The retirement system conducted a similar search in 2018 that resulted in a manager change.
The university recently added core fixed-income allocations with an existing manager as part of its goal to divest its portfolios from fossil fuel exposures.