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Foundation and Endowment Investing
Philosophies and Strategies of Top Investors and Institutions
By Lawrence E. Kochard and Cathleen Rittereiser
Profiles 12 leading foundation and endowment Chief Investment Officers; chronicling their experiences, investment philosophies, and the challenges they face in allocating assets, managing risks, and selecting from an increasingly sophisticated set of investment opportunities.
Readers will understand how CIOs approach investing, glean good ideas about investment strategies, manager selection and new types of investments, and learn the characteristics of successful CIOs.
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Foundation and Endowment Investing received a great review in the July/August issue of the Financial Analysts Journal
"Through their own expertise and interviews with 12 prominent foundation
or endowment fund managers, the authors describe in this well-written
book (reviewed with The Standard & Poor’s Guide to the Perfect
Portfolio: Five Steps to Allocate Your Assets and Ensure a Lifetime of
Wealth) the history of investing for foundations and endowments,
provide an engrossing and readable overview of the basics of this type
of investing, and uncover commonalities—certain shared principles—among
these managers."
"Swensen’s outstanding performance with Yale’s portfolio, and the
investment success of other educational institutions’ endowments, such
as Harvard’s, and of some foundations has made the workings of
endowments/foundations of growing interest. Kochard and Rittereiser
have produced a well-written, enlightening book on the subject."
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Leading Investors and Financial Experts on
Foundation and Endowment Investing
“Larry Kochard and Cathleen Rittereiser have created a text that is an essential read for institutional investors. This book provides an excellent perspective on the evolution of institutional investing as well as on more topical issues regarding asset allocation and the emergence of alternative asset classes. The authors have done the investment community a great serviceby consolidating and sharing the collective experiences and outlooks of noted thought-leaders within the industry.”
-- Afsaneh Beschloss, CEO & CIO, The Rock Creek Group, Chairman of the Investment Committee of the Ford Foundation
“A must read for all CIOs, investment managers, marketers, board members and all those who call themselves investment professionals. Larry and Cathleen provide profound insight into the innermost thoughts behind the best and the brightest in the endowment world. These are profound anecdotes-- read this book!”
-- Churchill G. Franklin, Executive Vice President & Chief Operating Officer, Acadian Asset Management
“Larry and Cathleen are gifted investors themselves and they have used their skills to bring out the best from a wonderful group of Foundation and Endowment CIOs. The result is very thought provoking.”
-- Thomas J. Healey, Board Member, Georgetown University
"The authors have written an insightful book that highlights the growing importance of the Chief Investment Officer in the increasingly complex world of foundation and endowment investments. By examining the various CIOs' career paths, investment philosophies, challenges and successes, the book imparts practical advice for others in the field. Anyone interested in investment management will find this book particularly valuable."
-- George W. Wellde Jr., Managing Director, Goldman, Sachs & Co.
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