Two U.S. Representatives sent letters to 25 universities to express their concerns about the lack of diversity among asset managers of their endowments.
Public pension funds invested in malls, apartments and offices over the last decade in search of higher returns. Now they are grappling with how much those real-estate investments are worth in a world transformed by Covid-19.
Endowments across the country are beginning to report preliminary return information for the first quarter as the COVID-19 pandemic led to a precipitous market decline.
Institutional investors must lean on governance-best practices to avoid being victimized by a market crisis such as the current one brought on by COVID-19, according to a recent report.