Exact(4)
Their role at endowments is to select investment managers, giving them a measure of control over their travel schedules.
Returns have generally slowed at endowments that finish their fiscal years on June 30, reflecting the tumult in the markets this year.
Alternative investments represent 59 percent of the portfolio at endowments of more than $1 billion; by contrast, they account for 14 percent of endowments valued at under $25 million.
"It might be looking at endowments, public subscriptions, park improvement districts working with local business or ecosystem services where people pay parks to deliver draining solutions, for instance," says Mr Bennellick.
Similar(50)
So another approach is to look at college endowments.
Zoe Mendelson is a senior at Barnard College and interning at the Responsible Endowments Coalition.
Shrivelled endowments at many private American universities and budget cuts at many public ones mean fewer academic jobs.
Choosing Mr. Landesman, 61, signals that Mr. Obama plans to shake things up at the endowment.
One of her aims was to encourage the hiring of a Hispanic grant officer at the endowment.
But with each year of little or no growth, inflation eats away at the endowment's value.
"People look at our endowment as though it is their endowment," she said, "but we happen to be serving a higher purpose here.
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