{{ p.title }}
{{ b.text }}
{{ g.text }} {{ g.text }} {{ g.text }}
| {{ c.v }} |
|---|
{{ b.note }}
{{ p.kfImg.note }}
Setting the Right Meeting Cadence for an Endowment Investment Committee
Adapted for endowment and foundation boards from Chapter 8 of The Single Family Office by Richard C. Wilson.
How often should the committee meet? My answer from the book is simple. Let the portfolio decide.
Start with an audit of what you own
Before you set a calendar, list:
- Which areas the endowment invests in
- How often each area needs review or changes
- Who the real decision makers are for each area
That list shows you the outline of your committee and how often it needs to meet.
A real example
One family office I worked with had a big hedge fund book. Those managers were watched, judged and sometimes replaced all the time. The team met daily on that part of the portfolio.
The same family owned a couple of buildings. Those only needed a quarterly look. So once a quarter, the committee met with the property manager, reviewed the real estate and looked at any new property deals. The real estate manager did not sit in the daily hedge fund meetings. It wasn't his area and it would have pulled him off his job.
Endowments can use the same logic. Public markets and liquidity may need a monthly staff check. Private funds may need a quarterly review. Policy may only need a yearly look.
A calendar you can borrow
An experienced family office CIO I interviewed for the book suggested a rhythm modeled on corporate boards. Adapted for endowments:
| How often | What to cover |
|---|---|
| Yearly | Pay and incentive plans for investment staff, ethics and conflict standards, policy review |
| Twice a year | Asset allocation policy and ranges |
| Monthly or each meeting | Performance against the policy benchmark, risk, liquidity, communication to the board |
Many endowment committees meet quarterly and push the monthly items to staff, then review them in a dashboard.
Watch for meeting creep
If every meeting runs long, the fix is usually not more meetings. It is better screening before the meeting and a tighter agenda.
Frequently asked questions
Is quarterly enough for an endowment committee?
For many institutions, yes, if staff or an OCIO handles monthly monitoring and reports exceptions.
Should private fund commitments wait for a meeting?
Some can't. Many policies let a subcommittee or the chair approve time-sensitive commitments within limits.
Who prepares the agenda?
Usually the CIO or business officer, with the chair's sign-off.
Sources
- The Single Family Office, Chapter 8, Richard C. Wilson .
