July 8, 2009, The Chronicle of Philanthropy — Seventy-one percent of American nonprofit organizations in a new survey say that they are making changes in how they allocate their invested assets, in the wake of staggering losses brought on by the recession and market volatility, according to SEI’s Institutional Group, an investment manager with headquarters in Oaks. Pa.
OAKS, Pa., July 7, 2009 — An SEI (Nasdaq: SEIC) Quick Poll released today shows that nonprofit foundations and endowments are thoroughly evaluating their overall investment management process in response to continued market volatility. Nearly one-third (31 percent) of nonprofits currently using a consultant model for investment management said they are concerned about this approach and are looking into other options. Almost half (45 percent) of that group said they feel there should have been a higher level of proactive communication from the consultant during recent market turmoil. Nearly one-third (30 percent) of all polled said that defining investment management fiduciary responsibilities for trustees and investment consultants is a top priority.