Endowment funds will make about 4,800 managerial changes this year, 2,500 of which will be new hires, according to a recent study by the Spectrem Group. Of the 1,024 respondents, 16% indicated they likely would replace one or more investment managers in the next 12 to 18 months.
According to the survey, $32 billion in endowment or foundation assets will change hands this year.
