Kane Brenan, CEO of TIFF Investment Management, emphasizes the ongoing debate surrounding the performance of private equity strategies, suggesting that some investors are questioning whether the glory days of private equity are a thing of the past. Brenan underscores the importance of institutions selecting the right managers and hints that underwhelming results may prompt endowments to re-evaluate to find the most qualified managers.
Author: Amy Paterson
Press
October 12, 2023
Small Endowments to Outperform Large Peers in FY23, Consultants Say
Insights
October 11, 2023
Cash Management: Positioning for the Next Phase of the Rate Cycle
Last year, we advised members on how to take advantage of rising short-term rates and harvest yield on cash holdings. Now, as this period of rapid and frequent rate hikes may be ending, we offer our guidance on how to navigate a phase of stable and possibly declining interest rates. Specifically, we share views on:
- Adding duration to lock in yield
- Mitigating the duration risk that comes with longer-term rates
We also review the four categories we use to group cash, determined by timing of expected need.
- Reserve funds provide the greatest opportunity to extend duration and lock in yield
We recommend a strategy to take advantage of the current rate environment using Reserve funds – even as we caution that members must have some degree of confidence that those funds will not need to be accessed prior to maturity of the recommended investments.
Insights
October 4, 2023
Wind of Change: A Favorable Environment for Hedge Funds
Rising uncertainty in markets have given investors pause on how they should balance their portfolios. 2022 brought with it one of the most aggressive rate hike environments in recent history and a war on the continent of Europe, causing both equities and fixed income to decline in tandem. Investors can be forgiven for being cautious in these environments.
In this paper, we hope to outline some of the headwinds hedge funds have been facing and how these are now turning into tailwinds. We believe that these new dynamics make hedge funds an even more attractive investment to add dynamism to investor portfolios.
Download our new white paper: Wind of Change: A Favorable Environment for Hedge Funds
Client Management
Jim Russo, CFA
Executive Director, Client CIO Group
Jim Russo, CFA joined TIFF in 2023 and serves as an Executive Director in the Client CIO Group. He works with clients to identify an asset allocation strategy that best matches their distinctive risk and return considerations. He further refines this through portfolio implementation to ensure that the TIFF strategies used in portfolios are aligned with each client’s investment objective and mission.
Prior to joining TIFF, Jim accumulated over 30 years of investment experience in the financial-services industry. At Crewcial Partners, he worked as an investment consultant, serving a wide range of not-for-profit clients. Before his consultant role, Jim held positions as a buy-side equity analyst and portfolio manager at Dreyfus, J.P. Morgan, and AllianceBernstein. In addition, he spent three years at the J.P. Morgan Private Bank as the Director of US Research on Third-Party Managers.
Jim received his BBA in Banking and Finance from Hofstra University and his MBA from New York University. Jim currently serves as the Treasurer for Residents Forward, a not-for-profit organization with a mission to unite and inspire residents to protect and advance the environmental sustainability of his local community.
Check the background of this investment professional on FINRA’s BrokerCheck. By clicking this link, you will leave the TIFF website and go to FINRA’s BrokerCheck website.
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