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 their 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 for endowments and foundations.