Fixed-Income
The plan hired a manager to implement its maiden 3% target to private debt as part of a new asset allocation policy in March.
The plan replaced both its passive equity and fixed-income mandates with Vanguard Group as well as its sustainable equity mandate with Neuberger Berman in February.
The plan will hire an additional firm in August as part of its multi-asset credit search.
The plan replaced both its passive equity and fixed-income mandates with Vanguard Group after receiving an annual share class review in February.
The fund wrapped up its search for a firm to provide fixed-income investment management services for its portfolio at its May board meeting, selecting a firm over six others based on its fees and past performance.
The program approved changing an underlying emerging market det fund within its lineup due to outperformance and its investment consultant’s bias toward active management in the less efficient asset class.
The foundation approved new allocations to private debt, real estate and fixed-income strategies in the first quarter.
The university revised the investment policy for its short-term investment pool, broadening the investment guidelines to allow more flexibility to invest in short maturity, higher yielding U.S. government bonds and increasing the amount of commercial paper that can be held.
The institution approved venture capital commitments to a firm that marks a new relationship and terminated a hedge fund manager for liquidity purposes and being overweight its targets to the strategies.
The university added a U.S. Treasury strategy after its investment consultant conducted a search to fill a maiden 5% target approved in the first quarter.