Large-Cap
The board hired domestic and international all-cap equity managers last quarter.
The retirement system hired two international equity managers to replace an incumbent that had been on watch since October.
Nonprofit investors and allocators are tempering expectations for their portfolios in 2026 as they prepare for more moderate returns resulting from increased volatility and heightened valuations along with persistent macroeconomic and geopolitical uncertainties.
The retirement fund also terminated a global equity manager-of-managers and made commitments totaling $695.6 million in October.
The retirement system terminated a domestic large-cap core equity manager earlier this month.
The plan replaced a domestic large-cap equity fund with a social index fund as the previous manager had been on watch for performance concerns.
The plan will consider replacing a domestic large-cap equity fund on watch status and approving a new asset allocation for its portfolio at its December board meeting.
The plan’s emerging markets large-cap core equity manager had been on watch due to underperformance.
The deferred compensation plan hired a new domestic large-cap core equity manager last week.
The university has added to its investments with a domestic large-cap equity and multi-strategy hedge fund manager since September.