This course examines major issues and themes in overseeing tax exempt portfolios, primarily for endowments and foundations, and to some extent, pension funds; topics will include comparisons with principles underlying wealth management for individuals and family offices,
Key topics include: designing an effective governance structure for the institution; formulating investment policy; managing risk versus return; creating and/or adjusting a diversified portfolio; selection and assessment of specialty investment managers; the impact of globalization on investment management; the role of active versus passive management; and staffing models (e.g. internal team versus outsourcing). Some investment background /basic coursework required.
Rosalie Wolf was a Columbia Business School faculty member from 2011 to 2016.