We conclude that the average endowment would have been better served by simply indexing to the passive 60/40 benchmark.

Faith-based eleemosynary and educational institutions today wish to reflect their institutional values in their portfolios.

We find evidence that some of the claimed benefits of private investing, as well as some of the returns reported, both by private investment firms and by endowments, are overstated.

Veriti in the News: Dennis Hammond answers Dr. Kazemi’s attempts to assuage any concern endowment managers and their advisors may have due to studies such as his and Richard Ennis’, Co-Founder of EnnisKnupp.

Unfortunately, neither of Dr. Kazemi’s assertions is accurate. Dennis explains why.

Veriti In the News: Endowment Debate Heats Up as Dennis Hammond Calls a Critic’s Findings ‘Potentially Dangerous’

Institutional Investor’s Julie Segal covers what is unfolding as a heated debate between Hammond and Hossein Kazemi, whose research rebuts Hammond’s.

Veriti In the News: Chief Investment Officer highlights Dennis Hammond’s recent article.

The article cites Hammond’s impressive research that “covers a 58-fiscal-year period ending June 2019, and uses the compendium of annual endowment data extending back to July 1961 from the National Association of College and University Business Officers (NACUBO).”

“Our objectives are to determine whether endowments met various return goals over time and whether returns on average could be systematically improved.”

Dennis Hammond explains in his recently-published Journal of Investing article.

Larry Swedroe, chief research officer for Buckingham Strategic Wealth and Buckingham Strategic Partners, profiles Dennis Hammond’s upcoming article in The Journal of Investing, August 2020.

Swedroe focuses on Hammond’s findings that “the result could be reflective of the increasing difficulty managers have experienced due to the ‘Incredible Shrinking Alpha.’ ”