Endowment Asset Management
Investment Strategies in Oxford and Cambridge
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Product details:
- Publisher OUP Oxford
- Date of Publication 19 April 2007
- ISBN 9780199210916
- Binding Hardback
- No. of pages384 pages
- Size 242x162x26 mm
- Weight 707 g
- Language English
- Illustrations Numerous tables 0
Categories
Short description:
This unique study focuses on how the endowment assets of Oxford and Cambridge colleges are invested. Despite their shared missions, each interprets its investment objective differently, often resulting in remarkably dissimilar strategies. This thought provoking study provides new insights for all investors with a long-term investment horizon.
MoreLong description:
There is a profound linkage between the quality of a university and its financial resources. The universities of Oxford and Cambridge rank among the world's finest educational institutions, and are able to draw on invested assets that are large by any standards. Endowment Asset Management explores how the colleges that comprise these two great universities make their investment decisions.
Oxford and Cambridge are collegiate institutions, each consisting of a federal university and over 30 constituent colleges. While the colleges may have ostensibly similar missions, they are governed independently. Since they interpret their investment objectives differently, this gives rise to some remarkably dissimilar approaches to investment, which the authors explore in detail.
The first study of its kind, Endowment Asset Management analyses the objectives, investment philosophy, asset management and governance of over 60 college and university endowment funds. Drawing on exhaustive research and detailed discussions with Oxford and Cambridge investment bursars, the authors investigate issues such as asset allocation and spending policy, which have a major influence on the institutions' financial health. This study reveals the colleges' individualism and diversity, and carefully analyses their strategies, which range from the traditional to cutting edge.
The authors' findings are thought provoking for anyone concerned with the assets of foundations, endowments, charities, family offices, or trusts. All investors with a long-term investment horizon will find it extremely engaging.
All in all, Archarya & Dimson are to be hugely praised for producing a really useful and solid book, full of thought-provoking and stimulating material
Table of Contents:
Endowment Definition
The Investment Committee
Investment Objective
Spending Policy
Asset Allocation
Investing in Property
Issues in Portfolio Management
Portfolio Risk
Consultant Selection and Monitoring
Manager Selection and Monitoring
Socially Responsible Investment
Performance Measurement
Endowment Management Cost
Fund Raising: Role of Gifts
Conclusion
