US Endowment Study: Top 17 Funds Asset Allocation, Risk, and Risk-Adjusted Returns

US Endowment Study: Top 17 Funds Asset Allocation, Risk, and Risk-Adjusted Returns

Asset Allocation

By Mila Sherman, PhD, Professor of Finance, Shhreya Anand, Jonathan Fula, Hurditya Lohia (students), and Alternatives Class Advisor: Kristen Walters (alumni)Isenberg School of Management, UMASS Amherst and Center for International Securities and Derivatives Markets (CISDM)   The 17 largest U.S. university endowments collectively grew from roughly $249 billion in FY2016 to $426 billion by FY2025, […]

Opening the Gate: A Brief Review of the DOL’s Proposed Rule on Alternatives in 401(k) Plans and Revisiting CAIA’s Position

State of the Industry

  By CAIA Association’s Leadership Team   On March 30, 2026, the Department of Labor proposed a rule that would establish a formal safe harbor for plan fiduciaries who choose to include alternative investments – private equity, private credit, real estate, and digital assets – in 401(k) and defined contribution plan menus. The proposal is […]

From Short-Termism to Stewardship: What APAC Boards Need to Lead in a Geopolitically Fragmented Era

Asset Allocation

  By Nick Pollard, Managing Director, APAC at CAIA Association   In today’s fractured geopolitical landscape, boards across Asia-Pacific (APAC) face a profound challenge: how to move beyond short-term profit maximization and embrace stewardship that balances growth with resilience. The region’s dynamism—marked by rapid technological adoption, demographic shifts, and economic interdependence—sits uneasily alongside rising protectionism, […]