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Endowment Asset ManagementInvestment Strategies in Oxford and Cambridge$
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Shanta Acharya and Elroy Dimson

Print publication date: 2007

Print ISBN-13: 9780199210916

Published to Oxford Scholarship Online: May 2007

DOI: 10.1093/acprof:oso/9780199210916.001.0001

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Endowment management cost

Endowment management cost

Chapter:
(p.301) 13 Endowment management cost
Source:
Endowment Asset Management
Author(s):

Shanta Acharya

Elroy Dimson (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199210916.003.0013

One important area for periodic review for all investors is the overall cost incurred in investment management. At first glance, costs associated with endowment management for Oxford and Cambridge institutions appear to be broadly aligned with that of industry globally, with Oxford reporting greater efficiency in managing such expenditures. Average costs, however, do not reflect asset allocation decisions, the nature of strategies implemented, the level of risk, Sharpe (i.e., reward-to-risk) ratios achieved, or other services delivered to the client. Taking into account the more traditional approaches to investing within Oxford and Cambridge institutions, a higher level of pooling and/or indexing could reduce costs further; or a higher level of investment service could be secured at the same expense.

Keywords:   Oxford, Cambridge, investment management costs, asset allocation

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