Board of Curators discusses reallocation of resources and investments
Continuing their meetings this afternoon, the UM system Board of Curators listened to speakers from the Financial Committee about the university's Fiscal Year 2009 Financial Status Report and the discussed possible future decisions regarding investments in the school's endowment and retirement funds.
"When you have the kind of market we have had over the past year, it’s necessary that our return expectations follow that blueprint," said Robin Pellish, CEO of Rocaton and the university's investment advisor.
The curators addressed the issue of reallocating the school's investments to match benchmarks for future investment returns. With regard to the volatility of the market, the curators discussed how the school has met it's benchmarks from last year.
"Essentially, counting state appropriations, we did better than break even," Vice President of Finance and Administration Nikki Krawitz said.
Despite the bad start to the 2009 fiscal year, the second and third quarters did very well, almost completely recovering the school's investment losses since March of this year, bringing the school's net assets to a total of $2.3 billion, Krawitz said.
The board continued to discuss the future of the university's investments and the proposed reallocation of assets between the school's endowment and retirement funds. The proposed change will give more weight to the endowment fund, moving assets to a potentially lower risk investment.
Treasurer John Miller said over the past ten years, MU's investments have not only met but exceeded benchmarks, but that he was in favor of changing investments strategies.
"Both portfolios really should be looked at separately," Miller said. "In the past we have invested both side by side, but we must recognize their different characteristics."
Miller said by reallocating assets into the endowment fund, the university has given up a modest amount of return.
At tomorrow's meetings the board will continue the discussion about the future of the school's investments and will attempt to finalize a decision on the track the Financial Committee will take over the next fiscal year.
Comments (3)
11 a.m., Feb. 2, 2011
DyennaaltethY said:
In cases where adjusters get that package thing through an attorney with documents, pictures and other documents and etc. How much time does it typically state in the letter to respond? Do adjusters really respond by or on the date? How do they respond by phone, mail, letter or fax?
1:27 p.m., Sept. 21, 2010
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