ERIC Number: ED112753
Record Type: Non-Journal
Publication Date: 1973-Feb
Reference Count: N/A
Investment Policies and Concepts for Pools.
Ellis, Robert L.
Studies in Management, v2 n6 Feb 1973
Investment and endowment policies for educational institutions are shown to be greatly influenced by the size of the endowment and of the school budget. Administration of pooled funds is discussed with particular reference to procedures at Smith College. Establishment of an independent investment committee, separate from the finance committee, is recommended to determine who will make the investment decisions and to define precisely the objective for the endowment and obtain the board of trustee's agreement. It is emphasized that there is a distinct difference in setting policy and in selecting the individual securities for the portfolio. Specific policies are outlined, as are suggestions for payment options in The Common Fund, a nonprofit membership corporation. The Common Fund allows for the pooling of many small endowment funds of different institutions and the employment of expert management for the investment of these funds. (LBH)
Descriptors: Budgets, Educational Administration, Educational Economics, Educational Finance, Financial Policy, Governing Boards, Higher Education, Investment, Money Management, Operating Expenses, Trusts (Financial)
National Association of College and University Business Officers, One Dupont Circle, Washington, D.C. 20036
Publication Type: Journal Articles
Education Level: N/A
Authoring Institution: National Association of College and University Business Officers, Washington, DC.