Fundraising and Endowment Oversight for Public Universities
The strains on public universities require a new approach to resources, and an increasingly expertly managed endowment fund and fundraising operation are essential to that evolution
Governance and Management
Quarterly Regulatory Update: Second Quarter 2015
In this Edition: Europe focuses further on banking regulations Pending margin rules on uncleared swaps US banks appear to be heeding regulators’ advice on not lending to highly leveraged buyouts New Regulations on the Horizon in Europe US and global regulations start to converge Europe has seen a significant amount of activity on the regulatory…
Quarterly Regulatory Update: First Quarter 2015
In This Edition Banking regulations continue to impact hedge funds FSOC moves forward in identifying systemically important financial institutions SEC’s 2014 report provides insight on trends in alternative funds FATCA implementation continues Assessing the Evolving Impact of Banking Regulation on Hedge Funds Hedge funds’ relationships with prime brokers unstable due to new regulations While increased…
Have You Considered Your Portfolio’s Enterprise Risk?
Enterprise Analysis and Endowment Performance The portfolio’s enterprise risk is the potential effect of portfolio volatility on the bottom line of your organization. For a given institution, the risk may be lower than Trustees think it is—or it may be higher. How does one measure this risk? How should it be dealt with when constructing…
Investment Publications Highlights: December 2014
Why Currency-Hedge Foreign Developed Equities? Jeremy Schwartz and Christopher Gannatti, The Journal of Investing, Fall 2014 Currency hedging is not as costly as many investors think, and interest rate differentials between the US and developed economies may actually lead to income-generating currency hedged investment strategies. With the potential for a US dollar secular rally on…
Quarterly Regulatory Update: Fourth Quarter 2014
In This Edition SEC adopts money market fund rule reforms Definitional changes increase pricing for some credit default swaps Revised regulations broaden the classification of commodity pool operators Private equity funds’ treatment of fees and expenses remains on the SEC’s radar US Money Market Fund Reform Not the good news you hoped for After several…
The Missing Metric for Endowment Growth: Net Flow Rate
By comparing the net flow rate with the real investment return, an institution can determine whether its LTIP is successfully sustaining its role in the institution’s business model The net flow rate is the regular LTIP payout rate plus reinvested operating surpluses, capital additions, and capital withdrawals. Over the long term, the real investment return…
Quarterly Regulatory Update: Third Quarter 2014
In this Edition Regulators across the globe begin developing requirements for dark pools trading systems US regulators discourage highly leveraged transactions by banks OTC derivatives rules continue to roll out in the US and Europe FATCA’s debut means more paperwork for funds, investors, and financial institutions Come into the Light Dark pools get more scrutiny…
Quarterly Regulatory Update: Second Quarter 2014
In This Edition Potential for regulation of systemically important players in the asset management industry An update on the Volcker Rule and bank holdings of CLOs Fragmentation in the global swaps market Regulations for private equity and hedge funds FATCA’s first deadline, and what’s to come Sometimes It’s Good Not To Be “Important” Large US…
Quarterly Regulatory Update: First Quarter 2014
Calendar year 2013 was an active year for financial regulatory developments as US regulators continued to work through the rulemaking requirements imposed on them by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). European regulators were also active, addressing many systemic issues during calendar year 2013. The year 2014 is setting up…