International / Global / Emerging Markets
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.
The hires conclude a search first approved in June.
The termination resulted from a public equity structure review presented by its general investment consultant on Wednesday.
The plan retained two managers based on the recommendation of its general investment consultant.
The pacing plan will commit a total of $825 million to real assets and private equity strategies.
The plan is conducting the search due to the April 2023 contract expiration of its incumbent, which was rehired in 2018, 2013 and 2008 following similar searches.