Curators select investment firm, discuss financial matters
The Board of Curators has spent the past two hours interviewing potential candidates for investment management and have finally reached a decision.
Steve Holmes and Mark Caplinger of Summit Strategies Group spoke about how UM was an "east coast biased" institution, financially.
Holmes went on to discuss Summit's own financial beliefs.
"I don’t know that I want to invest with the investment arm of a French insurance firm where the number one goal is growth," Holmes said.
Rocaton Investment Advisors, LLC emphasized the importance of investing in passive strategies and focused on the longstanding relationship they have maintained with the UM System.
The boards decision will be released later this evening.
The board also discussed diversification of investments with Robin Pellish, a consultant for Rocaton who has worked for them for many years. The board voted unanimously on a motion to allow for passive investment.
"Our portfolio is in need of rebalancing," Vice President for Finance and Administration Nikki Krawitz said. "We think a good way to do that would be to put it into passive management"
Pellish approved of the proposal.
"I think it gives the board another degree of flexibility in how to structure equity programs," Pellish said.
Comments (0)
Post a comment
