Texas Endowment to Review $1 Billion Gold Position, New CEO Says
- Rich Hall joins Utimco as deputy CIO from Harvard endowment
- New Utimco managers unveil plan to revamp $31 billion fund
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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 Thursday 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.