Although the rate of increase has remained relatively constant over the past six years, total student charges, which include tuition, fees, and room & board charges, continue to rise. Our annual compendium of student charges includes high-to-low rankings, annual percentage increases, a comparison of rates of increase to inflation, and an appendix providing a 20-year…
This survey-based report provides information on the general characteristics of clients’ outstanding debt, including tax status, interest rate type, sources used for debt service, credit enhancements, and plans for refinancing or new issuance.
The choice of investment vehicle can have unexpected but meaningful implications for the business of managing a portfolio, affecting audit and accounting processes, financing decisions, taxes, liquidity, and even investment performance. This report provides an overview of the basic U.S. laws and regulations governing investment advisers and investment funds, discusses investment vehicles available to U.S….
By centralizing capital funding and operating assets in an internal bank, institutions can decrease required cash balances, increase expected investment returns, better manage debt capacity, and direct funds to institutional priorities. This report reviews in detail the operating and capital functions of an internal bank, the rationale for setting up each type of bank, and…
This report provides commentary and exhibits based on a survey of our U.S.-based endowment clients on aspects of operations management, with a focus on six categories: finance office staffing; liquidity; debt; financial reporting and accounting; performance reporting; and regulatory, tax, and legal matters.
Governance of endowed institutions now requires the explicit recognition of new risks, and trustees must be aware of important changes in legislative guidelines pertaining to investing and spending, in governance disclosures required by the IRS, and even in the very definition of endowment.
This paper explores alternatives for managing currency exposure inherent in diversified portfolios.
This primer discusses securities lending programs.
Due to the recent market volatility, many investors may be facing a liquidity crunch, and some a severe liquidity crisis. This paper is designed to outline a coherent process for assessing the sources and uses of cash, examine the implications of different decisions investors might make about their liquidity needs, and recommend some general guidelines…
During prolonged bear markets, investors naturally focus on how best to allocate portfolio assets to ensure they are not wholly exposed to the full brunt of declining equity prices. However, as the economy deteriorates and the financial sector in particular suffers declining revenue and job losses, investors should also consider whether they have increased exposure…