How are endowment investments managed at Appalachian State University Foundation, Inc.?
Endowments are invested by Appalachian State University Foundation, Inc. according to the asset allocation policy referenced in question seven below. Ten investment managers, selected by the Foundation’s Board of Directors, manage the Foundation’s endowment assets. Merrill Lynch provides investment advisory services to the Foundation’s Investments Advisory Committee and the Board of Directors. The Foundation strives to preserve both the corpus and the spending power of the endowments. Asset allocation is the cornerstone of the endowment’s investment policy and a key responsibility of the Investments Advisory Committee of the Foundation’s Board of Directors. The strategic asset allocation policy should set the course for endowment investing for many years to come. The overall investment objective is to earn a total net return equal to the sum of inflation plus the spending rate.
