Calderone, Matthew
9:38 AM (15 minutes ago)
to BOARD-OF-TRUST. Unsubscribe
Media Advisory
October 28, 2015
Trustee Committee to Meet Via Conference Call Thursday, October 29
The Investment Committee of the Board of Trustees of The University of Alabama will meet via conference call Thursday, October 29, 2015 at 10:00 a.m. The media and the public may listen in to the call by dialing 205-348-4300.
To view the agenda please click on the following link (http://uasystem.ua.edu/wp-content/upload...9-2015.pdf) or contact Kellee Reinhart at (205) 348-5938.
-----------------------------------------------------------------------
If you would like to be removed from this listserv, please send an email to kbailey@uasystem.edu with "Remove from listserv" in the subject line.
If you would like to be removed from this listserv, please send an email to kthoma@uasystem.ua.edu with "Remove from listserv" in the subject line.
Anyone have an idea what's going on?
It would be nice to see which of their buddies get the opportunity to float bond issues, get construction contracts, etc.
They are discussing the new "manager"... no one has that title in the current board structure, so I'm assuming a new position.
Is that Clay Ryan's position?
I think this has to do with managing the endowment, not floating bonds.
UA, UAB, and UAH work from a pooled endowment fund.
The Board of Trustees of The University of Alabama
Investment Committee Conference Call
205-348-4300
October 29, 2015 – 10:00 a.m.
Agenda
A. Roll Call - Michael Bownes
B. Introduction of Press - Kellee Reinhart
C. Approval of Minutes from Investment Committee Meeting held on September 18, 2015 - William “Britt” Sexton
D. Discussion Regarding New Manager Recommendations - Nolan Bean
E. Presentation of New Manager Resolutions - C. Ray Hayes
F. Adjourn
(10-28-2015 12:15 PM)UABslant Wrote: [ -> ]They are discussing the new "manager"... no one has that title in the current board structure, so I'm assuming a new position.
I have to correct myself... I'm not sure if this is "who" manages the investments or "how" the investments are managed. I thought PBJ just handled all this himself
(10-28-2015 01:16 PM)mixduptransistor Wrote: [ -> ]I think this has to do with managing the endowment, not floating bonds.
UA, UAB, and UAH work from a pooled endowment fund.
And I wonder the break down of which university gets what out of that pooled fund???
(10-28-2015 03:41 PM)blazerwkr Wrote: [ -> ] (10-28-2015 01:16 PM)mixduptransistor Wrote: [ -> ]I think this has to do with managing the endowment, not floating bonds.
UA, UAB, and UAH work from a pooled endowment fund.
And I wonder the break down of which university gets what out of that pooled fund???
IIRC the funds they put in are kept track of, meaning, if UA put in 60% then they get 60% out, etc. In terms of the endowment, UA has the biggest representation there.
The three universities' endowments are managed by the UAS office and have a total pooled value of $1.23 billion* (2014)
UAT $667.98 million (up approx $32 million from 2010)
UAB $434.55 million (up approx $100 million from 2010)
UAH $74.37 million (up approx $55 million from 2010)
* The three campuses reported endowments, oddly enough don't equal the total system endowment reported to the US Dept of Education for 2014...go figure...
I'm the only one listening apparently...
About to recommend and vote on a manager
Just talking about performance of the Account. Down 6% this year
Current managers Brandy's International and I didn't catch the other. Firing both of them. Recommending RAE global index fund. Going to use one manager rather than 2. Southeastern out of Memphis is the other recommendation. They are putting more money into international investments.
Looking to be a more active approach, saves costs. Wish I had the slides to look at.
Several 100s of thousands saved in fees going the route they are recommending.
Voted on, passed. Adjourn.
It sounds like they are hiring Southeastern to be the manager, but investing in RAE's global index fund.
(10-29-2015 10:09 AM)price4UAB Wrote: [ -> ]Just talking about performance of the Account. Down 6% this year
The S&P is up 1.48% YTD, so yeah, if they're down 6% time to give the current manager the boot.
(10-29-2015 05:50 PM)mixduptransistor Wrote: [ -> ] (10-29-2015 10:09 AM)price4UAB Wrote: [ -> ]Just talking about performance of the Account. Down 6% this year
The S&P is up 1.48% YTD, so yeah, if they're down 6% time to give the current manager the boot.
Yeah. They voted to do that. But remember, the manager is a company they hire to manage the investments, not a specific person.
(10-30-2015 10:32 AM)price4UAB Wrote: [ -> ]But remember, the manager is a company they hire to manage the investments, not a specific person.
Yes, I understand that. Doesn't excuse their poor performance.