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The university has hired a new cfo to oversee its finances and investment portfolio following a search from earlier this year as its previous finance head left for a new opportunity.
The registered investment advisor has selected an investment consultant as a strategic investment research advisor to strengthen its research efforts within asset allocation modeling, manager due diligence/selection and portfolio implementation.
CORRECTION: The Town of Norwood (Mass.) Retirement System hired WCM Investment Management along with Arrowstreet Capital and Axiom Investors as its new global equity managers. Incorrect information provided by the plan appeared in the Sept. 4 edition of FIN Daily.
The firm has hired two managing directors to bolster its real estate debt strategy.
The funds are being moved to an international index fund managed by Fidelity Investments.
The plan approved a consultant switch at a board meeting today.
The search will be for index products covering “various strategies with differing fund and account types and across numerous geographies and markets.”
The fund closed with over $4 billion in commitments, exceeding its $2 billion initial target.
The termination recommendation stems from fixed-income structural changes approved last summer that eliminated sub-asset class targets in core-plus and high-yield.
Global equity represents a new asset class for the retirement system.