Tactical Opportunities
The Tactical Opportunities asset class was approved by the Board of Trustees as part of the asset allocation review and update of the Investment Policy in May 2023.
This asset class is designed to provide an area for the investment team to execute on opportunistic investments across public and private markets without the tracking error and other constraints imposed on other asset classes. This asset class may be used to invest in any already authorized assets. The strategy includes a target allocation of 2% of the Fund for FY24.
KEY PORTFOLIO FIGURES
2%
FY24 Target Asset Allocation
$9.8 M
as of June 30, 2023
MANDATE
Strategy
The CIO will have primary responsibility for executing The Tactical Opportunities portfolio’s investment strategy. The portfolio may be invested in any investment that is authorized in this policy, including private market opportunities, publicly traded markets, or a mix of public and private opportunities. Investments in this portfolio, due to prevailing market conditions at the time of investments, should have appealing equity-like expected returns. At the time of investment, the expected returns for this portfolio should exceed the expected returns of passive investments in domestic equity investments as measured by the S&P 500.
PERFORMANCE
The performance of the tactical opportunities portfolio will be evaluated quarterly, net of fees, against the S&P 500 (Lagged). Performance reports for the portfolio can be found in the monthly performance reports and in the board meeting packets.