University of Indianapolis hired Fund Evaluation Group as its first manager of managers for the school's $54 million endowment, said Michael L. Braughton, treasurer and vice president for business and finance. The firm is reviewing the endowment's investment policy and might recommend adding an alternatives allocation, Mr. Braughton said. Results of the review will be presented at the investment committee's Nov. 20 meeting; no timeframe has been set for making any changes, he said.
The endowment's asset allocation is 75% equity, 25% fixed income.
