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Asset Management Committee: February 28, 2013

The Asset Management Committee met on Feb. 28, 2013. Chairman Richard Myers presided. In addition to the regular performance monitoring reports reviewed in the Feb. 8 teleconference, the following are a few of the reports received and actions taken at the regular meeting:

  • Staff reviewed the inflation-sensitive allocation custom benchmark and objectives to be followed in revising the benchmark, as recommended by the consultant in the recent asset allocation study. The committee provided input and guidance that staff will incorporate into the revision of the benchmark, to be presented in the teleconference meeting in May.
  • Staff presented the annual private capital manager review in which the relative performance of the individual managers and funds are reviewed to insure KSUF is getting access to quality managers who are delivering returns in excess of the public equity market.
  • Staff presented the annual Comparative Performance Review in which KSUF endowment performance is compared to several peer groups.
  • It was also reported that the real estate management oversight reporting from the Kansas State University Charitable Real Estate Foundation was being transferred to the board, consistent with a policy of all foundation subsidiaries and affiliates reporting to the board.
  • The actions and recommendations of the Trust Management Subcommittee in its recent meeting were presented as the Asset Management Committee now has oversight responsibility of this subcommittee and area of investments.
  • Staff presented a proposed investment department operating budget, which was approved by the committee and will be forwarded to the Finance and Audit Committee as part of the foundation operating budget creation process.
  • Endowment pool annualized returns for the periods ending Dec. 31, 2012 were 12.85 percent, 7.07 percent, 1.31 percent and 8.15 percent for the one-, three-, five- and 10-year periods respectively.

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.