Fixed-Income
The change comes after terminating its active manager, which failed to meet its performance objective and has showcased organizational risk.
The plan also held finalist interviews with three large-cap value equity managers last month.
The foundation liquidated a core-plus fixed-income mandate and replaced two emerging markets equity managers in the third quarter.
The plan conducted a liquid credit manager search after approving a new asset allocation policy earlier this year.
The plan hired two new core-plus fixed-income managers to replace Western Asset Management.
The plan conducted a liquid credit manager search after approving a new asset allocation policy earlier this year.
The plan replaced the TCW Total Return Bond Fund at its Oct. 16 meeting.
The plan also placed its core fixed-income manager on watch in recent months.
The foundation terminated an unconstrained fixed-income manager and reinvested the redemption proceeds with an existing firm at its board meeting in late September.
The deferred compensation plan terminated a stable value fixed-income manager to improve its risk/return profile yesterday.