The decision to outsource investments often faces pushback from investment staff, many of whom soon have to find new roles.
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With Anne Martin set to retire at the end of June, the Connecticut school chose an internal candidate to lead its $1.7 billion endowment.
The Massachusetts-based university hired a graduate alumnus who previously worked at Cambridge Associates.
Plan sponsors’ needs for long-dated bonds and the role of fixed-income managers may change as average liabilities fall to fewer than 10 years.