High-Yield
The plan is searching for two emerging market debt managers and one high-yield fixed-income manager.
The contract of the plan’s incumbent high-yield fixed-income manager will expire this year.
The recommendation stems from general investment consultant NEPC’s most recent asset class assumptions.
The plan expects to issue the RFP later this month and make a selection in the third quarter.
The university foundation added several strategies spanning private equity, domestic equity, commodities and high-yield and investment grade fixed-income within its endowment last year.
The plan placed the firm on probation status at a meeting this week due to asset outflows.
The firm was placed on watch for underperformance.
The plan has issued the RFPs after approving the searches last month.
The plan’s previous manager did not submit a proposal in a search launched this summer.
The plan will seek board approval to terminate a high-yield fixed-income manager and an emerging markets equity manager.
