Trustees are responsible for the stewardship of assets and for implementing the mission of their endowment or foundation. Almost invariably trustees delegate the management of those assets to agents who are investment professionals.In this increasingly sophisticated and litigious financial world there can be a growing gap of comprehension, exacerbated by mathematics and jargon, between trustees who are responsible and agents who are accountable.This book aims to fill that gap. The book draws on the author's own experience and research and that of generations of investment professionals and academics to explain the fundamentals of investment strategy. Key features are therefore:Foreword by George Keane (founder and former president of Commonfund, won the first ever Lifetime Achievement Award from Foundation & Endowment Money Management) one of the icons of endowment fund management in the USAimed at professional trusteesAn holistic approach to strategyAvoidance of jargon and mathematicsFocus on principles underlying asset strategy.

受托人负责管理资产和履行其捐赠基金或基金会的使命。几乎所有的受托人都会将这些资产的管理权委托给投资专业人士的代理人。在这个日益复杂和诉讼不断的金融世界中，人们对这些资产的理解差距会越来越大，数学和行话会加剧这种差距，这本书旨在填补这一空白。本书借鉴了作者本人以及几代投资专家和学者的经验和研究成果，阐述了投资策略的基本原理，主要特点如下：前言由乔治·基恩（Commonfund创始人和前总裁，从基金会和捐赠基金管理局获得首届终身成就奖——美国专业基金管理公司捐赠基金管理的一个标志——一个整体性的规避策略和数学的方法。