ABOVE AND BEYOND
With standard portfolios forecast to stagnate, endowment managers eye real estate, private equities, hedge funds, and other alternative investments to beef up performance.
The ninth-century Haji Piyada Mosque in Afghanistan has been designated one of the world's 100 most-endangered sites by the World Monuments Fund, a New York-based nonprofit organization that reported a 24.1-percent return on its endowment investments for the most-recent fiscal year. (Photograph by R. Besenval, DAFA, courtesy of World Monuments Fund)
HERE AND NOW
Sometimes intergenerational equity is better served by spending than by investing in the market, say Henry Riggs and Timothy Warner.
(Illustration by Julie Delton)"