(January 14, 2010) — A new survey reveals nonprofit foundations and endowments believe that portfolio liquidity, definition of fiduciary roles, and protection against potential inflation will be fiscal priorities in 2010.
Four in 10 respondents said they have upped the percentage of their assets in cash reserves, according to the survey by SEI’s Nonprofit Management Research Panel. The study compiled feedback from 103 organizations with assets ranging from $25 million to $1 billion.
“Gone are the days when the adviser’s responsibility ends with the recommendation of managers,“ said Carolyn McLaurin, Vice President and Managing Director of SEI’s Nonprofit Group. “This poll suggests investment committees want more direction and greater accountability from individuals giving them investment guidance.”
While 70% of the respondents said the organization currently uses an investment consultant, 40% of that group said they would evaluate that relationship during the next two years.
SEI is a global provider of outsourced asset management, investment processing and investment operations, helping corporations, financial institutions, financial advisers, and affluent families manage wealth, according to its company site.
To contact the <em>aiCIO</em> editor of this story: Kristopher McDaniel at <a href='mailto:kmcdaniel@assetinternational.com'>kmcdaniel@assetinternational.com</a>