Jump to ContentJump to Main Navigation
Endowment Asset ManagementInvestment Strategies in Oxford and Cambridge$
Users without a subscription are not able to see the full content.

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

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in OSO for personal use (for details see www.oxfordscholarship.com/page/privacy-policy).date: 21 April 2019

Investment objective

Investment objective

(p.69) 3 Investment objective
Endowment Asset Management

Shanta Acharya

Elroy Dimson (Contributor Webpage)

Oxford University Press

In the world of endowment management, where the investment horizon may extend over centuries, investment decisions to support the objectives of endowed institutions pose a unique set of challenges. This chapter addresses the issues surrounding the definition of the investment objective. The establishment of a benchmark or policy portfolio for some endowments is a way of defining the investment objective, with the benchmark asset allocation reflecting that objective. Thus, the benchmark allocation of assets is responsible for providing resources for current operations while preserving purchasing power of assets in the long term. The benchmark therefore reflects the institution's approach to various aspects of managing the endowment, including risk.

Keywords:   Oxford, Cambridge, endowment management, investment policy, benchmark asset allocation, risk

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .