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Feeling the force of falling endowments

A number of Ivy League universities – including Yale, Cornell and the University of Pennsylvania (Penn) – are directly feeling the affects of the negative performance of their endowment funds, and are being forced to cut operating budgets for the 2009/10 financial year.
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Giant Texas plan defers performance pay for execs

Chief investment officer of the US$81 billion Teacher Retirement System of Texas, Britt Harris, has offered to forego an estimated $167,935 in performance incentive pay for 2008. At the most recent board meeting, the TRS board accepted Harris’ offer and also voted to defer all remaining investment division performance pay until the fund experiences a […]
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Asia and South America focus for SWFs

Sovereign wealth funds (SWFs), with assets of about US$5 trillion, see Brazil, China and areas of Central America as the most attractive geographical regions for investment, while 70 per cent plan to increase their allocations to equity markets in the second half of the year, according to new research by Financial Dynamics International (FDI).
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