International / Global / Emerging Markets
The retirement plan replaced its domestic core-plus fixed-income manager following a bond manager review in May.
The plan will move the assets from the underperforming manager to cash for use in making benefit payments.
The university added an international equity investment with an existing manager within its portfolio in the fourth quarter.
The plan is expected to issue the RFPs next month.
The retirement system approved an active international equity manager RFP last week.
The plan is also searching for an emerging markets ex-China manager.
The plan also issued its RFP seeking passive fixed-income managers.
The plan adopted a new asset allocation that also eliminated risk parity and more than doubled its hedge fund target this week.
Plan staff will conduct on-site visits with six private debt firms next month.
The plan hired a new manager to replace its underperforming incumbent.