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Alternative Market Briefing

Trinity College’s endowment loses 5.4% from stocks, hedge funds

Wednesday, October 05, 2016

Komfie Manalo, Opalesque Asia:

Trinity College vice president of finance and chief financial officer Dan J. Hitchell said that the university’s endowment lost 5.4% over the 2016 fiscal year after the fund declined from $546.3m to $502.8m during the period.

Trinity’s official student newspaper The Trinity Tripod, said that the Hartford, Connecticut-based university lost money due largely from "withdrawals and portfolio losses in market value."

Charlottesville, Virginia-based Investure LLC, which claims to be "a recognized leader in the endowment and foundation investment management industry," is managing Trinity’s endowment. But The Trinity Investment Committee, composed partially of trustees, also provides some oversight in assisting in the management of the endowment.

Hitchell said that despite the loss, the endowment actually outperformed its benchmark as it gained 6.4% over the last five years, while the benchmark returned 6.0% during the same period. However, he admitted that the past three years have been challenging for the fund in terms of performance.

Hitchell credits what he calls "active management selection," for the long-term positive gains of Trinity’s endowment. He describes active management selection as the process by which an individual makes the decision which investments to make, instead of random selection or using a machi......................

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