Pioneering Portfolio Management: An Unconventional Approach to Institutional Investment
Swensen has been the chief investment officer for the past 14 years at Yale University, where he is responsible for managing and investing more than $6 billion of the university's endowment assets and investment funds. Realizing an annual return of more than 16 percent on his investments, Swensen has added more than $2 billion to Yale's coffers, and his consistent track record has attracted the notice of Wall Street portfolio managers. Here Swensen provides a brief history of endowment funds and explains the purpose of endowment accumulation and the goals for institutional portfolios. One of the strategies behind his success has been to diversify asset classes and move beyond a reliance on domestic marketable securities. He distinguishes between traditional and alternative asset classes, looks at performance evaluation issues and tools, and considers the investment decision-making process. Although its audience will be limited, this book is a necessary purchase for libraries with collections that include the topic of investment management.David RouseCopyright © American Library Association. All rights reserved