Idaho Endowment Approves Foreign Stocks Boost
August 20, 2008
The $1.2 billion Idaho Endowment Fund Investment Board (EFIB) has made its first changes resulting from a portfolio structure review, said Larry Johnson, manager of investments at the plan.
“At the August 19 meeting, the board approved, in concept, an increase in our international equity target from 20% of total equity (14% of the fund) to 30% of total equity (21% of the fund), but no specific manager changes were endorsed,” Johnson told IMW via e-mail.
Johnson added that the staff would present a plan and timetable to implement the move at the endowment fund’s November meeting.
The plan invests 16% of its assets in international equity.
The EFIB first announced that it would be reviewing its portfolio structure in February (see IMW, 2/19/08), in lieu of recommendations made following an asset study to add investments in real estate, private equity and absolute return hedge funds.Callan Associates advises the plan.
For more information on related topics, visit the following:
