Optimizing Available Managerial Resources in the Investment Process: The Perspective of a Large Fund

Abstract

Managing a large endowment fund requires optimizing the available resources, which can be done in various ways. All optimization procedures, however, can be enhanced by having a board with a high degree of investment management experience. Optimization requires having a sound investment process, identifying past weaknesses to improve future performance, and addressing the risk aversion of many board members. This presentation comes from the Managing Endowment and Foundation Funds conference held in Philadelphia, Pennsylvania, on March 25-26, 1996.