Duties of the Subcommittee on Investments

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The Subcommittee on Investments is charged with the responsibility of determining the appropriate asset allocation and investment strategies for the Endowment. The duties of the Subcommittee include but are not limited to the following:

  • Develop investment objectives and performance measurement standards for the Endowment and to review such objectives, standards, and investment allocations on an annual basis;
  • Select investment advisory firm custodians and other service providers as  required by the Subcommittee;
  • Monitor adherence to this Policy and evaluate performance based on stated objectives;
  • Hold meetings at least semi-annually with Investment Advisory Firm for the purpose of review of performance reports;
  • Evaluate performance of Investment Advisory Firm,  investment managers, custodian and other service providers;
  • Any specific investment vehicles chosen by the Subcommittee must have appropriate investment characteristics and be managed by organizations that, by their record and experience, have demonstrated their exercise of fiduciary responsibility and their investment expertise;
  • Recommend overall endowment investment objectives and policies to the Board of Trustees;
  • Recommend and periodically appraise the performance of the Investment Advisory Firm to carry out the duties of Outsourced Chief Investment Officer;
  • Monitor the growth of the Rhodes endowment and investment rate of return versus peer institutions and the best performing colleges and universities subset in the annual NACUBO Endowment Study;
  • Monitor the recommended model asset allocation of the Investment Advisory Firm on a quarterly basis;
  • Decide on retention or sale of real estate given to the College, provided the real estate is not used by the College and is not part of the campus of the College;
  • Make recommendations to the Committee on Finance and the Board of Trustees on all aspects of endowment investment management, as needed.

In effect February 14, 2008.
Vice President for Finance and Business Affairs.