Fixed-Income
The plan will consider active core and core-plus fixed-income manager hires in May as a result of a new asset allocation that also eliminated its 2.5% risk parity target yesterday.
The board will consider hiring a new public markets consultant later this month.
The plan’s incumbent was first hired in 1997.
The plan made the hires after restructuring its international equity and U.S. fixed-income manager portfolios.
U.S. foundation assets fell nearly $250 billion in 2022 and are now at their lowest level since December 2018.
Four firms will vie for a $45 million mandate.
The university approved private equity, real asset, international equity and fixed-income investments with new managers in the second half of 2022.
The foundation launched a short duration income fund investment option solely managed by one firm at the beginning of the year in response to the current market environment to provide a flexible option that delivers high yield, consistent performance and low volatility.
The fund has issued RFPs seeking equity and fixed-income managers.
The university is seeking an investment manager to oversee almost $250 million in operating investment portfolios as its incumbent provider’s contract is set to expire in July.