How does Wayne State invest endowed gifts?
The Wayne State University Foundation established an Investment Committee to oversee and manage the endowments. The committee employs external professionals to manage and invest the portfolio. The committee also contracts with an external consultant and uses university staff to assist in overseeing the entire process, including review and evaluation of the investment managers. The external consultant is New England Pension Consultants, Inc. The asset allocation policy provides for a diversified portfolio. This policy, along with the mix of investment managers, is designed to grow the fund over the long-term in order to maintain the purchasing power of the endowment as well as fund the distributions to university programs.
