Retirement Plan - Investment Benchmarks
To evaluate the success of the investment program the university compares its investment performance to that of various benchmark indices.
The university established a hybrid benchmark against which to evaluate its investment performance. The hybrid benchmark presently consists of the indices shown in the table below.
|Global equity||MSCI All Country World Investable Market Index (ACWI IMI)
|Alternative investments: Hedge funds||3-month T-bills plus 5%||5.0%|
|Alternative investments: Private equity||Russell 3000 plus 3%||5.0%|
|Alternative investments: Real estate||NCREIF||6.0%|
|Global fixed income||Barclays Global Aggregate
|TIPS (Treasury Inflation-Protected Securities)||Barclays US TIPS
|High yield bonds / bank loans||Bank of America Merrill Lynch High Yield Master II Constrained||12.0%|
|Emerging markets debt||JP Morgan EM Bond Index-Global Diversified||5.0%|