The $410 million endowment of the Smithsonian Institution, Washington, hired two international stock managers and has conducted preliminary interviews of bond managers, said Sudeep Anand, treasurer. Warburg, Pincus Counsellors and Rowe Price-Fleming International will be allocated up to $25 million each for international equities. Funding will come from reducing allocations to balanced managers Miller Anderson & Sherrerd and Fiduciary Trust.
The investment committee will decide by early March whether to hire bond managers, and if so, how much to allocate to them. The Smithsonian has bond exposure through balanced managers