University of Dayton endowment, Dayton, Ohio, will search for high-yield, inflation-indexed and commodity futures managers over the next six months. Trustees of the $400 million endowment approved a new asset mix last month.
Under the new targets, the allocation to international equity was increased and U.S. stock and core fixed-income targets were trimmed. The developed markets target was increased to 21% from 15%, and the target to emerging markets was raised to 7% from 5%. The U.S. equity target was dropped to 22% from 40%, while domestic core fixed income was cut to 10% from 24%.
Also approved were new allocations of 10% each for high-yield fixed income and inflation-indexed bonds, 8% for commodities and 2% for timber. Allocations to private real estate remained at 10% while the allocation to private equity was cut one percentage point to 5%.
Wilshire Associates will assist in the searches.