White Paper

Does Active Management Benefit Active Management: An Analysis of the NACUBO-Commonfund Study Data

May 8, 2014

Active management for endowments is significantly positively related to higher returns net of fees from U.S. equity allocations over the 2006-2013 evaluation period, according to a longitudinal analysis authored by David Belmont, chief risk officer, and Irakli Odisharia, market risk director, of institutional fund manager Commonfund.