UVA-F-1537 INVESTURE, LLC, AND SMITH COLLEGE In January 2004, Alice Handy’s new investment advisory firm, Investure, LLC, was attempting to land its first client, Smith College, an elite liberal arts college located in Northampton, Massachusetts with a $913 million endowment. Handy, fresh from her previous position as chief executive officer of the University of Virginia Investment Management Company (UVIMCO), had 25 years of experience managing money and a track record of success. Over her career, Handy had directed increasing amounts of funds to a class of investments known as “alternative assets,” which included a range of investments other than publicly traded stocks and bonds. She had also developed a philosophy about …show more content…
She also found herself involved in fundraising efforts when donations to UVa’s capital campaign involved life trusts. During the 1990s, as state support of higher education dwindled, endowment funds took on increasing importance for UVa and other public universities. Handy’s position was restructured to enable her to dedicate more time to the investment side. The previously “lowkey” staff and endowment both grew rapidly as Handy’s team began conducting proprietary research. Soon nearly a dozen investment professionals and five accounting and administrative staff members were managing the endowment. In 2003, after 29 years with the university, Handy determined it was time for a change. In July of that year, she announced her retirement as chief executive officer of UVIMCO, leaving behind a healthy endowment and a strong record of performance. UVIMCO’s asset allocation had changed considerably during Handy’s tenure, and the endowment had enjoyed strong performance (Exhibits 1 and 2). UVa’s endowment had generated an average annual return of more than 13% since Handy’s arrival and it had grown to almost $2 billion in market value (Exhibit 3). Through her years of service, Handy had developed an extensive list of contacts including business leaders, asset managers, venture capitalists, and philanthropists.
It is a company with revenue of 52.5 M in 2005 with growth 3 % more than 2004.
Net income on the income statement: $2,377,000,000 ($5.37 per share), which is an increase of 15% compared to 2014.
* Establish a positive image with the local university to create additional long term clientele.
Stable cash flows with estimated total revenues increasing from 559.9 million in 1978 to 937.8 million in 1984 (Note also its strong intellectual property as shown by its
The technology portion of their company has grown tremendously which has caused so much of their growth. In addition, they found the perfect formula to appeal to and retain customers. Most of their customers are loyal to their company and insist on sticking to their products. Their market capitalization, $639,922 million, is extremely high compared to other companies in their industry They returned about $8 billion to shareholders during their quarter. Also, their gross margins, currently at 38.01%, are high at passed by
and Lowe's were around $3.8 billion. Assuming 20 per cent of these returns and/or exchanges were not
On February 10th 1997, Frank Miller assumed the position as the director of data management in Smith’s Information Services department. He was hired to fill a vacancy that was available for more than one year as well as help restructure and reorganize Smith’s Information Services department (Hattersley and Mcjannet, 54). The primary function of the Data Management Group at Smith Financial was to manage the distribution, storage, capture and flow of data throughout the company. Before Miller, this position was left vacant and needed someone to take charge as well as help the company move in a different direction than the current one.
Stable cash flows with estimated total revenues increasing from 559.9 million in 1978 to 937.8 million in 1984 (Note also its strong intellectual property as shown by
Though Fletcher has enjoyed long-term success as a portfolio manager, he stumbles as a team manager. One example is in his relationship with Stephanie Whitney. Though he described is as a “mentor-protégé” relationship, he admits to having little time to train her. While he provided her with general career guidance, he explains that it was her own resourcefulness and initiative that allowed her to ascend from an administrative assistant position to the role of analyst. This transition, as noted by one of her colleagues, was difficult for Whitney and she struggled with establishing her identity as an aspiring portfolio manager. Because of Fletcher’s hands-off approach to managing people, Whitney’s growth was stifled under his management, which was a contributing factor to her eventual resignation.
Excellent equity position: $820 Million cash on books so they are well positioned for growth.
The Investment Club is a community on campus that targets the interest of business majors. Most students entering college during their freshman year know very little about the complexity of the financial markets. After interviewing a current member Hunter Losse he said, “The purpose of the meetings is to discuss important information that affected the market in the past week as well as to help students understand how financial markets operate around the world.” This Investment Club community has members who have graduated and are currently working at very successful jobs. Alumni of this club have returned on occasion to discuss their experiences and present useful information. As Kerry Dirk writes in “Navigating Genres”; one needs to consider audience, purpose and genre when trying to communicate a message. The genre the Investment Club uses is PowerPoint presentations full of information about the financial market that will benefit students in many ways for future opportunities. While PowerPoints are not a unique genre, the information presented by the Investment Club includes certain features that make it unique from other genres. The understanding of the financial markets can be very complex, but the language, layouts and visuals in the Investment Club’s PowerPoints help new members gain a general understanding.
1. Do you think Deborah made a good career decision to take the job of general manager at Lyric?
Above all, I do not believe it would be wise for you, Mr. Masterson, to invest in Smith Enterprises as a long-term investment. Through conducting a thorough financial analysis such as the vertical analysis, horizontal analysis, and ratio analysis, I believe you would be better off investing in another company. While Smith Enterprises shares some values when reviewing their financial statements, I am afraid it is certain circumstances, such as a decrease in net income of $12,000 that leads me to believe that the company has a bit of work to do to turn this around. Along with the decrease net income it is also important to review the finer details such as the ratio analysis. When looking specifically at Smith Enterprises profitability in which
Her early experiences in banking were almost always challenging and rewarding. She was enrolled in the bank’s management development program because of her education (a.B.A. in languages and some postgraduate training in business administration), her previous job experience, and her obvious intelligence and drive.
David Fletcher is a portfolio manager with many years of experience and success under his belt. He currently is a limited partner managing an Emerging Growth Fund for Jenkins Fletcher Partnership or JFP. The company was small when David started and consisted of a CEO, Paul Jenkins, CFO, 2 financial assistance, 4 research analyses, 1 research assistant and a receptionist. David first started with JFP he hired an Administrative Assistance, Whitney to help organize his calendar, contact companies and take messages, etc. Whitney proved to be capable and eager to learn. Under David’s guidance she received her MBA and