Fixed-Income
The changes will harmonize the investment grade fixed-income portfolios between the board’s three investment plans.
The new policy will help the plan achieve an expected return of 7.25% over the next 10 years.
The plan removed two hedge fund investments totaling $40.8 million from its portfolio this week.
The plan will interview three government/credit bond managers next month.
Given available yields in short rates and “superior” liquidity in the current high interest rate environment, healthcare systems can benefit from allocating new funds to short-term tiers, according to a recent report.
The selection will conclude a core-plus fixed-income search for a replacement manager.
The plan hired five multi-asset credit managers today as part of its previously approved return-seeking fixed-income structure.
The plan is seeking a firm to handle a $15 million mandate and provide uncorrelated returns to both equity and fixed-income markets.
A university based in New England approved new allocation targets for two of its portfolios.
The plan approved criteria for its short-duration fixed-income manager search and made an opportunistic real estate commitment for pacing purposes last week.