Manager selection is one area of investment activity where most institutions in Oxford and Cambridge sought guidance from a consultant. Several Oxbridge colleges reported asset manager changes over the last few years; many adding to their roster of managers, while others seeking to enlist managers specializing in alternative strategies. Monitoring the performance of external asset managers is a key task of the Investment Committee, though the number of managers and the strategies used may involve a high degree of responsibility for the individual concerned, particularly the investment bursar who has a wide range of other college responsibilities. Most (98%) investment committees in Oxford and Cambridge reported being highly engaged in the manager monitoring process, with 80% claiming full responsibility.
Keywords: Oxford, Cambridge, asset management, endowment assets, asset managers