Idaho Endowment Fund Switches Gears
February 19, 2008
The Idaho Endowment Fund Investment Board has shelved talks of a more sophisticated asset mix, said Larry Johnson, manager of investments at the $1.2 billion plan.
"The board concluded that they would like to defer consideration of new asset classes until 2009," he said. Originally, the fund considered making maiden investments in real estate, private equity and absolute return hedge funds (See IMW, 1/21/08). Instead, the fund will now have consultant Callan Associates make recommendations regarding its manager structure.
"They will be looking to see if there are any unintended bets or correlations," Johnson explained.
He noted that there could "conceivably" be manager changes as a result, or changes in asset weights.
The endowment fund has an asset allocation of 70% equity and 30% fixed-income, which includes sub-mandates in small, large and mid-cap and international investments, in the equity portfolio.
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