Southern Illinois University Foundation, Carbondale, restructured its $75.5 million endowment and is considering searching for managers in five additional investment areas that would total roughly $24.2 million on the recommendation of its new consultant, Fund Evaluation Group, according to Libby Banycky, treasurer. Fund officials hope to issue RFPs this fall for venture capital, buyout, special situation, absolute return or multistrategy fund of funds managers and learn more about the asset classes, Ms. Banycky said. They hope to make selections by early 2007.
The fund also invested $8 million in Barclays Global Investors Alpha Tilt; $8 million in PIMCO StocksPLUS; $5.8 million in BGI Global Mid-cap Tilt; $3 million in an active domestic small-cap value equity separate account run by Clover Capital Management; $3 million in an active domestic small-cap growth equity separate account run by Kalmar Investments; $2.2 million each in active emerging markets value and active international small-cap value accounts run by Dimensional Fund Advisors; and $3 million total in the PIMCO Real Return Strategy Fund, a TIPS fund run by Loomis Sayles and the PIMCO High Yield Fund.
The fund will cut $3.1 million from its current investment in the American Funds EuroPacific Growth Fund, leaving it at $8.8 million, and $3.3 million from the Western Asset Asset Core Plus Bond Portfolio, leaving it at $7.3 million.
The fund will terminate the following investments: $29.8 million in the Vanguard Total Stock Fund; $11.8 million in the Wellington CTF Research Equity Fund; and $10.6 million in the PIMCO Total Return Fund.
Foundation officials issued RFPs earlier this summer in an effort to diversify the fund.