The institution has released its third annual Diversified Returns report and found that the number of substantially diverse firms surveyed declined, while the number of majority diverse firms remained static year-over-year.
Endowments and foundations’ have seen substantial asset growth in recent years, “straining the system, including investment staff, IT, and various support functions,” but 71% of surveyed cios said they did not need to add more personnel.
The fund hired 14 fixed-income managers, including four new firms, to handle a portion of its portfolio after issuing an RFQ last year due to the contract expirations of the incumbent providers.
The foundation is seeking an investment professional to help conduct research on new and existing investment managers as well as support portfolio management, risk management and communications efforts.
The college hired an investment operations director earlier this month after they worked at a nearby university foundation in the same role for more than four years.
The fund added an investment analyst to help oversee its portfolio last month and promoted another investment analyst to senior investment analyst in June.
The health system outsourced the management of its pension and endowment assets this week, replacing an internal investment office led by CIO David Holmgren.