Board members overseeing the $500 million long-term investment pool at the Cleveland Clinic may wipe out its fixed-income allocation and increase its equity exposure to 85% to 95% of assets.
The clinic's current asset allocation is 73% equities, 20% fixed income and 7% cash.
The long-term investment pool contains the health care organization's endowment and funded depreciation accounts. Kevin Roberts, treasurer for the clinic, says the seven-member investment committee is examining whether any type of fixed-income exposure is beneficial. If the committee decides to drop its fixed-income exposure, assets will be reallocated to the seven existing managers. No new managers will be hired, Mr. Roberts said.