Former Western Asset Management co-CIO Ken Leech appeared in federal court on Monday, where he pled not guilty to charges stemming from a $600m fraud case alleging that he ‘cherry picked’ trades for favored clients over several years.
According to Patrick Decker, head of institutional OCIO at Wilmington Trust, nonprofits are increasingly turning to this model for professional investment and governance management. Decker makes a case that this model is a great way for foundations to reassess strategic plans, endowment strategies and fundraising goals during times of financial stress.
City Controller Chris Hollins wants any investigation into his office’s fundraising practices to extend to the Mayor’s State of the City event, he said in a letter to the Office of Inspector General and City Council Ethics Committee.
Abrdn, the UK-listed fund management group, is working with the University of Edinburgh to develop a generative AI tool with a “statistical brain” to work alongside its investment research team.
As UMass backs out of a commitment to consider divestment, an investigation reveals its endowment has millions indirectly invested in defense contractors and other entities targeted by student activists.
Active management is key to Baylor’s endowment, which has become a top performer among universities. But investment chief David Morehead and managing director Renee Hanna, who run the endowment’s public and private investments, respectively, say cultural factors can’t be overlooked.
Baylor University has traded its way to the top of the university endowment performance rankings. Many universities allocate their money among different assets and adjust periodically. Baylor, led by a former trader, seizes on market moves frequently to boost or cut exposure to its managers.