RT Journal Article
SR Electronic
T1 Risk and Endowment Policy
JF The Journal of Investing
FD Institutional Investor Journals
SP 25
OP 31
DO 10.3905/joi.2000.319436
VO 9
IS 4
A1 Dennis R. Hammond
YR 2000
UL https://pm-research.com/content/9/4/25.abstract
AB One of the primary duties of an endowment board is to articulate and maintain the institution's Investment Poicy Statement (IPS), which serves as the defining enunciation of the instituton's investment philosophy, objectives, and policies. In the IPS the board will address time horizon, asset mix, investment manager criteria, performance measurement targets, social policy constraints, and investment risk. This necessitates the board's corporate engagement in the exploration of the meaning of risk within the context of the institution.