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Asset Management Committee: September 11th, 2013

Vice-chairman Charlie Chandler presided at the regularly scheduled meeting on September 11, 2013.  The following are reports received and actions taken:

  • A report on current over and under weights in the Endowment Pool portfolio asset allocation was presented by staff.  The pool is currently underweight US government bonds and overweight emerging markets equities and private capital.  

 

  • Staff reported on a restructure of the domestic equity allocation.  A move was made to hire two all-cap managers, one in the growth space and one value manager.  A third manager was also added to provide an uncorrelated alpha to the other two in a more opportunistic strategy.  This replaces one small cap growth, a small cap value manager, an all-cap fund of funds manager and a smid manager.  This new mix of US equity managers should produce a more favorable risk-adjusted net return in the future for this segment of the portfolio.

 

  • Topics were introduced for the committee’s consideration and action in the fiscal year 2014.  The committee will be working on initiatives to support the KSUF organizational priorities for FY14, including its role in addressing components of an enterprise risk study.  In conjunction with the Finance & Audit Committee, the committee will also be completing a review of the organizational reserves.