D. Ellen Shuman began her endowment investing career working for David Swensen, longtime CIO at Yale University, where she remained for 12 years. In January 1999 Shuman brought her expertise to the Carnegie Corp. of New York as CIO for more than a dozen years before heeding the call of entrepreneurship. Institutional Investors 2014 Lifetime Achievement Award winner opened her new outsourced CIO firm last year.
On investing today
It is a very tough time. Trying to spread your bets seems like the best strategy right now.
On fixed-income strategy
We think you have to have some Treasuries as an insurance policy. Theyre probably going to be shorter in duration at this point because when interest rates go up, theres a real asymmetric risk to Treasuries.
On managing ones asset managers
Post-2008 Ive seen a trend to consolidate managers to have fewer managers but have high conviction in them. It is easier to watch over fewer managers.
To read more on Shumans investment views, see the full roundtable discussion.