The Carnegie Corp. CIO is tasked with turning around the Ivy League laggard.

The economic slump has held down merger activity in 2020.

The fully funded pension program has a strict policy of staying that way, but the inflation adjustment currently can go no lower than 0.5%.

The $635.5 billion fund was aided by being overweight in fixed income and underweight in equities.

They don’t pay much interest, and future price appreciation is so not happening. Still, they have their uses.