subscribesubscriber servicescontact usabout ussite mapBuy a Classified
Sun, Nov 08 2009 

Resources

print this story   Print this story
  Post to del.icio.us

Photos


Chris Brown began his duties as chief investment officer for Bucknell University on May 19.
/


Published July 16, 2007 01:12 pm - Chris Brown likes a challenge. And the 47-year-old has found one. Mr. Brown has become Bucknell University’s first chief investment officer, responsible for overseeing $600 million in investments within Bucknell’s endowment portfolio.


Bucknell invests in new money manager


By Rick Dandes
The Daily Item

LEWISBURG — Chris Brown likes a challenge.

And the 47-year-old has found one.

Mr. Brown has become Bucknell University’s first chief investment officer, responsible for overseeing $600 million in investments within Bucknell’s endowment portfolio.

“Universities, in large part, are funded by endowments, and so the opportunity for the CIO is to administer, or manage, those assets in concert with the board of trustees,” said Mr. Brown, who joined the university May 19.

That board has an investment subcommittee, comprised mostly of investment professionals, he said.

Their job is to steward those assets for the long term, and to maintain the purchasing power of the portfolio, Mr. Brown said.

“Endowment funds are made to be used,” he said. “That’s key. We’re not trying to grow the endowment for the sake of the endowment.

“We want to grow it so that we can spend more, so that we can have more of the operating budget of the university paid by the endowment fund.”

Donations given when the university was founded in the 1800s are still giving, he said, to the growth and academic mission of the university.

“Our goal is to do that forever,” he said. “We want to make investments that will last and stand the test of time, but we get the benefit of not requiring, necessarily, real high liquidity in those investments.

“So we can benefit from and get higher returns from the liquid assets perhaps that other investment managers, who have shorter return time lines, might not be able to invest in. That’s one of the great things about endowments.”

Almost $100 million has come out of the endowment fund over the past five years to support the academic mission of the university, he said.

“And we want that to continue to grow over time,” he said.

One of Mr. Brown’s initial tasks in the first couple of quarters is to develop a long-term investment policy and asset allocation strategy for Bucknell’s portfolio.

His goal is to determine whether there are areas in the university’s investment policy that need to be updated or enhanced.



print this story    email this story   


More from the Campus Life section

Bucknell invests in new money manager




Customer Service
Free Coupons to Print
Gilberts Garden Centers Frights and Delights Front Porch Contest


autoconx
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Premium Jobs

Full Time Accountant
SEDA-COUNCIL OF
GOVERNMENTS

FT ACCOUNTANT

Primary responsibilities -
budget forecasting,
...>MORE

Energy Consultants
A GREEN COMPANY
Now Hiring, Energy Consultants for our Lewisburg & Danville offices. Applicants must possess a high
...>MORE

Experienced Roofers
EXP. ROOFERS: Must have own truck, equip., & crew. Ready to start. Call 570-568-0222....>MORE

CDL Class A Driver
CDL Drivers, Class A, Tractor trailer drivers. Home every night. Call 570-524-0249...>MORE

Air Quality Specialist
Up to $15.60/hr to start.
Air Quality Specialist. Local outlet. 25/30 people to start immediately. No exp. nec. Com
...>MORE

See all ads


Domes and Spires book Free Coupons Circulation Updates Promises - weddings - engagements- anniversaries Photo Gallery Subscribe now - Inside PA Tv Channels Public Notices Mortgage Rates Pennsylvania Lottery

 

Community Newspaper Holdings, Inc.CNHI Classified Advertising NetworkCNHI News Service
Associated Press content © 2009. All rights reserved. AP content may not be published, broadcast, rewritten or redistributed.
Our site is powered by Zope and our Internet Yellow Pages site is powered by PremierGuide.
Some parts of our site may require you to download the Flash Player Plugin.
View our Privacy Policy
Advertiser index