Trustees: Investments, Endowed Funds

OHIO STATE HIRES FUND MANAGERS, ESTABLISHES PROFESSORSHIPS

The Ohio State University Board of Trustees on Friday 
(12/1) authorized several investment managers and the Office 
of the Treasurer to manage endowment funds for the coming 
year.  The board also established two endowed professorships 
and seven new named endowed funds.

Endowment Fund managers named for coming year

Among managers retained for the coming year, the board 
reduced allocations to equity funds managed by the 
university and university students, and increased 
allocations for various types of funds to Boatmen's Trust 
Co., WR Lazard and Co., R. Meeder and Associates, Nicholas-
Applegate Capital Management Mid Cap Growth, and Wells Fargo 
Nikko Investment Advisors.

Trustees voted to hire the Huntington Trust Co. as a 
new fixed-income manager with an allocation of $10 million.

The Board of Trustees regularly adjusts the allocation 
and amounts of money assigned to external investment 
managers as economic conditions and performance change.  The 
Investments Committee recommended the changes based on a 
review conducted last month.  James L. Nichols, treasurer, 
announced that the market value of the endowment reached a 
record high $589.6 million on Nov. 17.

The managers are as follows, listed by type of 
management fund, increase or decrease in allocation, total 
allocation, and market value as of Nov. 17:

-- Banc One Investment Advisors, fixed income, no 
change in allocation, $10 million total allocation, 
$10,221,032 market value.
-- Boatmen's Trust Co., fixed income, an additional $10 
million, $40 million allocation, $49,820,252.
-- The Chicago Corp., equities, no change, $13.5 
million allocation, $64,952,227.
-- The Common Fund, fixed income, no change, $10 
million allocation, $10,080,815.
-- Holt, Smith, and Renk, fixed income, no change, $3 
million allocation, $3,051,736.
-- WR Lazard and Co., fixed income index fund, an 
additional $20 million, $50 million allocation, $51,541,673.
-- R. Meeder and Associates Inc., small capitalization 
equity index fund, an additional $10 million, $30 million 
allocation, $38,332,531.
-- Nicholas-Applegate Capital Management Emerging 
Growth, equities, no change, $20 million allocation, 
$26,012,576.
-- Nicholas-Applegate Capital Management Mid Cap 
Growth, equities, an additional $10 million, $30 million 
allocation, $67,657,933.
-- University Managed, equities, amount varies 
according to receipt and sale of gifts, $28,242,555 
allocation, $67,020,521.
-- University Managed, fixed income -- GNMAs and U.S. 
Treasury and agency securities, decrease of $15 million, 
$7.5 million allocation, $8,021,379.
-- University Students, decrease of $2 million, $5 
million allocation, $8,986,065.
-- Wells Fargo Nikko Investment Advisors, international 
equity index fund, no change, $20 million allocation, 
$22,056,761.
-- Wells Fargo Nikko Investment Advisors, small 
capitalization equity index fund, no change, $20 million 
allocation, $28,325,179.
-- Wells Fargo Nikko Investment Advisors, Standard & 
Poors 500 equity index fund, additional $10 million, $44.5 
million allocation, $74,754,806.

Professorships established in epilepsy, politics

The board established two new named endowed faculty 
positions:  the Richard J. And Martha D. Denman 
Professorship for Clinical Research in Epilepsy and the 
Vernal G. Riffe Professorship in Government and Politics.

The Denman Professorship, to benefit a faculty member 
in the College of Medicine, was created with gifts of 
$521,535 from the Denmans, of Laguna Beach, Calif.  Richard 
Denman earned his Bachelor of Science degree in business 
administration in 1957.  The professorship will support the 
work of a distinguished researcher, teacher and practitioner 
selected by the dean in consultation with the Denmans.

The Riffe Professorship was established with gifts 
totaling $500,000 from friends and associates of Riffe, who 
as a resident of Scioto County served as speaker of the Ohio 
House of Representatives longer than any other person.  The 
annual income from the endowment will provide salary and 
program support for the work of a distinguished teacher and 
scholar whose interests focus in one or more areas of 
American government and politics, such as legislative, state 
or democratic political leadership and institutions.  The 
position will be in the Department of Political Science.

Trustees also established seven named endowed funds:

-- The Dayton A. Eldridge Innovation Fund in Business, 
$166,667 to support new projects and activities in the 
Fisher College of Business.
-- The STRS Teacher Education Scholarship Endowment 
Fund, $152,750, to benefit students preparing for teacher 
certification at any state university in Ohio having a 
college, school, or department of education.
-- The Edward J. Ray Commemorative Research Fund, 
$15,000 to support scholarly activities of graduate students 
in the Department of Economics.
-- The Mary K. Laughlin and Emery B. Laughlin Endowment 
Fund, $50,000 for research and education support in the 
Department of Ophthalmology.
-- William E. And Mary Ann Arthur Dean's Innovation 
Fund, $20,000 for faculty and student support in the Fisher 
College.
-- The Magdalena M. Fearon Cancer Out-Patient Support 
Fund, $15,000 for The Arthur G. James Cancer Hospital and 
Research Institute.
-- The Dorothy Lewis, Freda and Roy Barnhart and Mary 
and Frank Jenkins 4-H Fund, $16,775 to support 4-H volunteer 
leader recognition in Clark County, 4-H members enrolled in 
nutrition projects in Madison County, and Ohio 4-H members 
with disabilities.
                            #
Contact:  James L. Nichols, treasurer, (614) 292-6261, or 
David Ferguson, director of development communications, 
(614) 292-8646.
Written by Tom Spring.


[Submitted by: Von Reid-Vargas (ereid@magnus.acs.ohio-state.edu)
               
Fri, 1 Dec 1995 13:57:26 -0500]
All documents are the responsibility of their originator.