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This note attempts to provide initial guidance to non-profit managers in Pakistan with regards to the financial management of endowment funds. In order to provide this guidance, two US based endowment funds have been selected i.e. Harvard and Yale endowment funds. These funds are generally recognised in the international non-profit industry as examples of the most well managed ones (Brazenor 2008). This is due to their broad selection of investment products, exposure to alternative asset classes and consistently achieving higher returns with low risk (ibid). In view of this, it is considered that the financial management practices of these funds provide a good reference point for all non-profits, including those operating in Pakistan. This note may be used as supplementary reading for the case, SHAUKAT KHANUM MEMORIAL CANCER HOSPITAL AND RESEARCH CENTER ENDOWMENT FUND LUMS No: 02-630-2014-1. |
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