Performance of fund managers questioned by board
The Retirement and Endowment Fund Annual Performance Report led curators to question the performance of their fund managers.
As of Sept. 30, 2008, the retirement assets totaled to $2.7 billion, and endowment was $920 million. The total fund benchmark showed a significant decrease in the retirement fund, mostly due to recent market activity, Vice President for Finance Nikki Krawitz said.
“I have concerns that a lot of our managers are underperforming. It raises a question of how good these managers are doing,” curator Doug Russell said.
Krawitz said the board should look at the performance of fund managers over time.
“We are evaluating their performance to see who we should continue and who we should discontinue,” Krawitz said.
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