University of New Mexico, Albuquerque, hired Northern Trust as master custodian for its $170 million endowment, according to a fund official who declined to be named. Northern Trust replaced State Street Corp., effective July 1. The endowment's investment committee issued an RFP because of the ownership changes at what is now State Street; the endowment hired Bankers Trust five years ago, he said.
The endowment's asset allocation is 48% domestic equity, 38% domestic and international fixed income, and 14% international equity.
