Experience
Our first clients in 1981-1985 were trust funds, including charitable and pension trusts. We have served as a fiduciary for four decades. We have experience partnering with clients such as hospitals, colleges, corporations, private family foundations, and charitable trusts.
Services Offered
Willis Investment Counsel offers the following services to our endowment/foundation clients:
- Education and counseling, including enterprise risk management1
- Investment policy
- Evaluation
- Recommendation
- Drafting
- Asset allocation education, stress-testing, and recommendations
- Investment management
- Direct management (portfolio construction, security selection, etc.)
- Indirect management (index fund selection, manager research, etc.)
- Reporting and Accounting
- Outsourced CIO role
1 Enterprise risk management integrates risks of the organization with portfolio risks to achieve a more holistic risk/reward outcome. Especially where spending policy, debt covenants, and DOE composite score issues are present, stress-testing a range of potential outcomes is part of our risk management process.
Firm Insight
The Willis Investment Counsel research and portfolio management team periodically publishes its views on the endowment/foundation landscape including risk management, diversification, fiduciary responsibility, and investment strategy.
Investment Principles for Endowment and Foundation Funds – June 2016
Targeted Rate of Return and Asset Allocation in a Low Return World – November 2016
The Drivers of Portfolio Outcomes – April 2016
The Role of Enterprise Risk Management in Not for Profit University and College Endowment Portfolio Strategy – April 2014
Paradox of Complexity: Pension Fund Management Evolution to Endowment Model and LDI – December 2013
Managing Private University and College Endowments: A Case for a Differentiated Investment Approach – August 2011