The $2 billion fund, now in the market for its first CIO, decided it’s big enough to shift asset management internally.
NACUBO welcomes rule changes but still opposes tax, which it says diminishes resources for students.
Universities have called for the removal of the 1.4% excise tax, which they say hurts financial aid.
But long-term returns fall well below target rates for endowments of all sizes.
Previous sponsor to provide complementary research.
But 10-year average annual dips to 4.6%.