University of Dayton endowment, Dayton, Ohio, raised its target allocation to international equity and cut its U.S. stock and core fixed-income target as part of an asset allocation change approved last month by trustees of the $400 million endowment.
The endowment raised its target allocations to international equity and cut its U.S. stock and core fixed-income targets. 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%.
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 slipped one percentage point to 5%.
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