The Norwegian Krone has gained ground since Norges Bank was the first G-10 central bank to raise rates last month. Can the Krone continue to strengthen?
UTIMCO adopts new strategic asset allocations for endowment funds
Aerial view of Univeristy of Texas football staduim
The board of directors of the University of Texas/Texas A&M Investment Management Co., Austin, approved a strategic asset allocation for the two endowments UTIMCO manages.
The new asset allocation for the $30.5 billion Permanent University Fund and the $18.6 billion Long Term Fund for fiscal year ended Aug. 31, 2022 is effective Sept. 1, 2021.
The directors approved the change during a June 29 meeting, University of Texas System spokeswoman Cathy Biow confirmed in an email.
In fiscal year 2022, the total target allocation to the endowments broad global equity category rose to 65.7% of fund assets from 63.1% in fiscal year 2021, while new long-term target will raise the total target allocation to global equity to 65% of endowment assets from 63%, according to a report presented to the UTIMCO board at the meeting.
Who Can Explain This Amazing Graph of Inflation? Take This Quiz! townhall.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from townhall.com Daily Mail and Mail on Sunday newspapers.