Fixed-Income
The recommended changes include introducing a 5% target to private debt and restructuring the plan’s U.S. fixed-income and both U.S. and non-U.S. equity portfolios.
The university rehired its incumbent operating funds manager after issuing an RFP at the beginning of the year.
The plan approved an RFP seeking value-add real estate managers to handle $7 million.
The plan is seeking active core and core-plus bond managers to handle roughly $125 million each.
The city is looking for a firm to manage its long-term and short-term portfolios.
The global asset manager has agreed to acquire a CLO team and platform based in Europe.
The manager will handle a new 3% long Treasury target allocation.
The plan added two core-plus fixed-income managers to the portfolio and made 11 alternatives commitments in the first quarter.
The plan sees fixed-income opportunities in the decarbonization of the economy.
The trust fund revised the target asset allocation for its reserve pool at an April meeting, increasing its targets to fixed-income and international equity, following a study on its investment policy and practices.