richard ennis’s insights Unexceptional Endowment Performance
Legend has it that large US endowments have been exceptionally good investors. The analysis reported on here does not bear out the legend of superior endowment management. Most schools studied underperformed passive investment benchmarks and produced lackluster Sharpe ratios over a recent 15-year period. Trustees and CIOs should review the cost effectiveness of their investment management efforts. They appear to be paying for something they are not getting.
Authors
- Richard M. Ennis
Institutions
- Richard Wolf (Germany) (DE)
Publication Details
- Journal
- The Journal of Investing
- Published
- 2024-09-23
- DOI
- https://doi.org/10.3905/joi.2024.1.330
- Primary Topic
- University Challenges and Reforms
- Type
- article
- Field-Weighted Citation Impact
- 0.00