Using a sample of Investment Policy Statements [IPSs] from college and university endowments, we examine the form and use of these important documents. Direct examination of the IPS reveals subtleties that surveys may obscure. In addition to providing statistical insights into endowment...

The behavioral asset allocation framework developed for individual investors can help foundation and endowment trustees become more comfortable with quot;uncomfortablequot; asset classes that would help overall portfolio efficiency. Eleemosynary investment, particularly at smaller charities, is...