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: 22 March 2019

Spending policy

Spending policy

Chapter:
(p.98) 4 Spending policy
Source:
Endowment Asset Management
Author(s):

Shanta Acharya

Elroy Dimson (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199210916.003.0004

Institutions have spending and investment policies to support their endowments. Spending policies help in determining issues in long-term asset allocation. The governing bodies of colleges face the challenge of balancing the conflicting goals of supporting current operations and preserving endowment assets. Donors also expect their gifts to provide permanent support towards a specific activity, though colleges usually prefer undesignated or general donations. Spending policies act as referees in the perpetual game between current and future players. A clearly defined spending policy also frees up the asset allocation decisions and enables the fund manager to focus on investment issues.

Keywords:   Oxford, Cambridge, investment policy, endowments, long-term asset allocation, endowment assets

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 .