CFRM 554 Endowment and Institutional Investment Management

The course will focus on the endowment management process and specific challenges facing institutional fund managers. These include evaluating the role of an endowment, portfolio construction, risk management, manager selection, and alternative asset class investing. As such, the course utilizes concepts from finance and investments, macroeconomics, and mathematical optimization. Specific topics include:

  • Endowment policy background and philosophy
  • Spending
  • Risk and asset allocation
  • Emerging market investing
  • Fixed incomes role in endowment
  • Liquidity and investing in private equity.
  • Reading assignments will form the basis for class discussion and students are expected to be prepared for case discussions.
Instructor: 
Yindeng Jiang, Garth Reistad, Keith Ferguson, and industry guest lecturers.
Textbooks: 
There is a significant amount of reading for this course, including articles and investment research from multiple sources that will be assigned by the instructors.
Software: 
R will be useful in the event of some case applications.
Prerequisites: 
CFRM 541 Investment Science or equivalent. A general understanding of economics and a good background in core finance and portfolio optimization, e.g., CFRM 543 Portfolio Optimization and Risk Management is preferred.
Credits: 
2