University of North Carolina at Chapel Hill investment board members approved a new asset allocation: 39% domestic equities; 15% international equities, of which about a quarter is in emerging markets; 8% opportunistic equities; 9% absolute return equities; 3% private equities; 4% real estate; and 22% fixed income, with one-third of that in international fixed income, said Mark Yusko, CIO of the $750 million endowment fund.
Mr. Yusko's biggest moves since joining UNC have been to cut fixed income from 33%, increase international equity from 10% and reduce domestic equities from 43%.
