“One of the most important decisions the Investment Steward has to oversee is the determination of the portfolio’s time horizon.” Center for Fiduciary Studies
...As Board members of foundations, endowments and not-for-profits (“FENP”), we typically serve in that role for a brief season in the perpetual lives of these organizations. These seasons are most commonly defined either by “term limits” as mandated by our Board charters or self-imposed limits as we often choose to “move on” to other organizations as our interests evolve. Meanwhile, we are legally bound by a duty of loyalty and prudence as prescribed by the Uniform Prudent Management of Institutional Funds Act (UPMIFA). We are compelled to apply our investment expertise and experiences to a process that is designed to address the long-term objectives and time horizon of the institutions we serve - even when this pursuit is contrary to the manner in which we manage our personal investments.
. . . read more