Foundation and Endowment Investing: Philosophies and Strategies of Top Investors and Institutions

ISBN-13: 9780470122334 / Angielski / Twarda / 2008 / 320 str.

Cathleen Rittereiser; Lawrence E. Kochard

Opis

In Foundation and Endowment Investing, authors Lawrence Kochard and Cathleen Rittereiser offer you a detailed look at this fascinating world and the strategies used to achieve success within it. Filled with in-depth insights and expert advice, this reliable resource profiles twelve of the most accomplished Chief Investment Officers within today's foundation and endowment community--chronicling their experiences, investment philosophies, and the challenges they face--and shares important lessons that can be used as you go about your own investment endeavors.

Recenzje

" informative and entertaining an excellent resource for anyone who is considering a career move into this field or who has not–for–profit organizations as clients." ( Financial Analysts Journal, July/August 2008)

Spis treści

Foreword.

Preface.

Acknowledgments.

About the Authors.

Part One. Foundations and Endowments Rise as Powerful Institutional Investors.

Chapter 1. The Evolution of Foundation and Endowment Investment Management From Poorhouses to Powerhouses.

Chapter 2. Foundation and Endowment Investing 101 Essential Practices of a Successful CIO.

Chapter 3. The Investment Landscape You Are Here.

Part Two. Profiles in Capital: Philosophies and Strategies from Leading Foundation and Endowment Chief Investment Officers.

Chapter 4. Laurie Hoagland, CIO, Hewlett Foundation Another Sage of Omaha.

Chapter 5. Dr. Allan S. Bufferd, Treasurer Emeritus, Massachusetts Institute of Technology Doctor, Lawyer, Investment Chief.

Chapter 6. Alice Handy, CIO, Investure, LLC Leading the Evolution.

Chapter 7. Scott C. Malpass, CIO, University of Notre Dame Partner, Patriot, and Performer.

Chapter 8. William Spitz, CIO, Vanderbilt University Built An Endowment through Common Sense.

Chapter 9. Ellen Shuman, Vice President And CIO, Carnegie Corporation of New York Investment Artist with her Own Perspective.

Chapter 10. Bruce Madding, CIO, Henry J. Kaiser Family Foundation Master of All Trades.

Chapter 11. Bob Boldt, CIO, Agility Funds Agile Investment Engineer.

Chapter 12. Don Lindsey, CIO, George Washington University Driven by Intellectual Curiosity.

Chapter 13. Jonathan Hook, CIO, Baylor University The CIO as CEO.

Chapter 14. Daniel J. Kingston, Managing Director, Portfolio Management, Vulcan Capital Navigating New Investment Waters.

Chapter 15. Mark W. Yusko, Chief Investment Officer, Morgan Creek Capital Management Invest without Emotion, Act with Conviction.

Part Three. Summary and Analysis. Key Points on Investments, Endowment Management and the Future.

Chapter 16. Lessons for Investors CIO Principles in the Real World.

Chapter 17. The Business of Foundation and Endowment Investment Management

Comparison, Competition, Compensation.

Chapter 18. Real Rewards Investing is a People Business.

Notes.

Index.

O autorze

LAWRENCE E. KOCHARD, PHD, CFA, is Chief Investment Officer of the Georgetown University endowment and a widely recognized leader in the foundation and endowment investing community. Previously, he was managing director of equity and hedge fund investments for the Virginia Retirement System and an adjunct finance professor at the University of Virginia. Kochard was also a vice president with Goldman Sachs.

CATHLEEN M. RITTEREISER is an alternative investments marketing and business development executive specializing in foundations, endowments, and other institutional investors. Her experience includes Alternative Asset Managers, LP, an emerging manager investment fund, Symphony Asset Management, a Nuveen Investments company, and Merrill Lynch. Rittereiser′s Web site is www.cathleenrittereiser.com.

Blurb

Foundation & Endowment Investing

Having achieved impressive returns over a number of years, foundations and endowments are finally being recognized as investment powerhouses. With sophisticated portfolios managed by talented financial professionals, these institutions have become increasingly influential due to their long–term perspective which gives them the latitude to take more investment risks and adopt new asset classes long before other investors.

Now, in Foundation and Endowment Investing, authors Lawrence Kochard and Cathleen Rittereiser offer you a detailed look at this fascinating world and the strategies used to achieve success within it. Filled with in–depth insights and expert advice, this reliable resource profiles twelve of the most accomplished Chief Investment Officers within today′s foundation and endowment community; chronicling their experiences, investment philosophies, and the challenges they face in allocating assets, managing risks, and selecting from an increasingly complex set of investment opportunities.

Some of the individuals you′ll hear from along the way include:

• Laurie Hoagland, CIO, Hewlett Foundation
• Scott C. Malpass, CIO, University of Notre Dame
• Alice Handy, CIO, Investure, LLC
• William Spitz, CIO, Vanderbilt University
• Don Lindsey, CIO, George Washington University
• Ellen Shuman, Vice President and CIO, Carnegie Corpo ration of New York

While each professional profiled skillfully discusses the strategies used to improve the financial health of their respective institutions, they also take the time to bridge the gap between theory and practice by describing how to apply the principles they′ve pioneered in real–world market conditions.

Besides providing you with the practical perspectives of top investors and institutions, Foundation and Endowment Investing through the combined expertise of two well–informed authors clearly lays out the basic background and current landscape of this ever–evolving industry, and shares important lessons that can be used by those in the broader investment community.

As investors, we all want to do a better job establishing a disciplined investment process in order to generate better returns on our portfolio whether it′s for the benefit of an institution or our families. With Foundation and Endowment Investing as your guide, you′ll discover how to do this and much more as you gain from the experience of today′s top investment officers.