July 24, 2008
Increasing Number of Smaller Charities Seek Outsiders to Manage Their Endowments
Some small and midsize charities, disappointed by the investing results produced by managers hired by their boards, have decided to hire experts to take over all the duties of managing an endowment.
Commonfund, which helps colleges and other charities manage their endowments, has in recent years started to serve as the de facto chief investment officer for nonprofit organizations, working closely with each charity's board on asset allocation and governance issues, in addition to
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