University of Washington likely will change its international equity allocation and might search for an international growth manager later this year, said V’Ella Warren, treasurer of the board of regents and assistant vice president-financial management.
The Seattle-based university had $100 million of its $868 million consolidated endowment fund invested in international stocks as of Dec. 31, along with another $34 million of other university endowment and operating assets.
Trustees plan to keep the total amount of international equities stable, but may add more of a growth component. Currently, Lazard Asset Management runs $124.4 million in a value style, while City of London manages $9.4 million in emerging markets. Trustees might cut Lazard’s allocation while boosting emerging markets to between $28 million and $47 million. Alternatively, the fund could either add a new manager or ask Lazard to adopt a growth portfolio as well, Ms. Warren said.
