Posted Dec 22, 2011
Written By: - Mark Faro
Endowments, foundations and hospitals hired fewer managers this year amid a tough market FEMM found in its new Foundation & Endowment Investment Analysis Report. There were 111 tracked completed searches this year through Oct. 31, down from 257 during the same time frame in 2010, according to mandate data captured by FEI sister database iiSEARCHES.
“Given the environment, asset allocation policy and investment structure were higher- priority issues than manager selection with many clients,” said Ron Klotter, director of Midwest consulting at R.V. Kuhns & Associates. “In addition, it was a very difficult market to assess manager skill or consistency of alpha generation, given that government policy issues played such a major role in the movements of the markets,” he added. Additionally, many nonprofits conducted searches in 2010 following the aftermath ....
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