International / Global / Emerging Markets
The firm had been on watch since the third quarter of 2019 due to underperformance.
The plan will first issue RFPs for global infrastructure and tactical asset allocation managers.
The university increased its targets to private equity and global equity at the expense of hedge funds.
The plan concluded a search for a replacement emerging markets equity manager.
The plan will target 5% each to the new asset classes.
The plan is looking to replace its current underperforming manager.
The plan moved an emerging markets equity mandate to a passive account while it determines its long-term direction for the assets, which could ultimately remain passive.
The plan will make a decision on its ongoing long/short hedge fund search.
Institutions have begun to reevaluate their investment in the world’s second largest economy as they weigh a multitude of factors related to either increasing or reducing their exposure, including geopolitics, diversification and market uncertainties.
The university updated the fund’s asset allocation targets on the heels of several manager hires earlier in the year.