The University of Texas Investment Management Co. will examine its $1 billion gold position in the portfolio of the largest public university endowment in the U.S.
"We're in no rush to sell but it may not be a long-term strategic hold," Britt Harris, the new chief executive officer at Utimco, said during a break at a board meeting in Austin. The endowment is also looking at fixed-income investments because of their poor returns, Harris said.
The gold position is about 3 percent of the portfolio. Utimco oversees $31 billion in assets for the University of Texas and Texas A&M University as of Dec. 31. It manages another $12.3 billion in operating funds. ...
... For the remainder of the report:
https://www.bloomberg.com/news/articles/2018-...owment-to-re...
