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Asset Management Committee: August 12, 2013

Chairman Richard Myers presided at the regularly scheduled teleconference meeting on August 12, 2013. In addition to the regular performance monitoring reports, the following are reports received and actions taken:

  • Rush Harvey, Investment Officer, was introduced to the committee. Harvey began work at the Foundation on July 1 and brings several years experience in manager due diligence and portfolio construction.
  • Staff reviewed recommended changes to the Participation and Distribution policy, reflecting recent Board action on a new funding model and to update language on term and board-designated endowment accounts to be more consistent with accounting convention. The committee moved that the recommended changes be presented to the Board for approval.
  • Endowment Pool annualized returns for the periods ending 06/30/13 were 12.04%, 9.54%, 2.58%, and 7.72% for the one-, three-, five- and 10-year periods respectively. The Expendable Funds Pool returned 6.73% for the one year ended 6/30/13.

Visit KSU Foundation Investments to learn more about the status of the endowment and the policies and procedures utilized in managing all KSU Foundation assets.