Cambridge University and Newton Investment Management Announce Partnership on Long-Horizon Investing
October 16, 2014 /3BL Media/ - Cambridge University Judge Business School’s Centre for Endowment Asset Management has entered into a five-year partnership with Newton Investment Management, part of BNY Mellon. This partnership will enable the Centre to further extend its research and educational efforts in the area of long-horizon investing. In recognition of this support, the unit will be renamed the Newton Centre for Endowment Asset Management.
Commenting on the new support arrangement and her firm’s partnership with Cambridge, Newton Chief Executive, Helena Morrissey CBE, said:
“Newton has been a long-term supporter of the Centre for Endowment Asset Management. We share the Centre’s commitment to helping long-horizon investors make appropriate investment decisions. We look forward to collaborating with Professor Elroy Dimson and his team, and furthering the understanding of investment decisions and their impact on institutional returns. This underlines our commitment to the not-for-profit and charities sector.”
Newton believes in the importance of independent academic research, and the potential for long-term value creation through bridging the gaps between research, practice and policy. This complements the Centre’s aim of furthering academic knowledge and practitioner understanding of key themes linked to long-term investing. As well as the opportunities and challenges for long-horizon investors, the Centre’s agenda includes historical perspectives on current investment concerns and research on responsible investment strategies.
Centre Chairman, Professor Elroy Dimson, explained that:
“The partnership with Newton will reinforce Cambridge University’s ongoing collaboration with practitioners, academics and organisations that take a long-term view of investment. Under the leadership of founding Academic Director Dr David Chambers, the Centre will be a global focus for research and education among academic institutes, asset owners and investment professionals.”
The Centre’s plans include the seventh iteration of the Endowment Asset Management Programme – an annual three-day forum held at Cambridge University, which brings together practitioners and academics with an interest in long-horizon investing. In March 2015, the Programme will, for the first time, include sovereign wealth funds alongside foundations, charities, endowments and family offices from around the world.
The Centre aims to continue publishing in the world’s most highly rated academic and practitioner journals. There is also a commitment to developing case studies of leading long-term investors to be used for interactive classroom teaching. Other activities include a biennial academic conference run in collaboration with the Vienna University of Economics and Business and supported by the POK Pühringer Foundation, and an annual research prize awarded in conjunction with the Commonfund Institute.
The Director of Cambridge Judge Business School, Professor Christoph Loch, added:
“The Newton Centre for Endowment Asset Management, with its emphasis on rigorous research combined with practical relevance, is an exciting initiative. Cambridge Judge Business School values scholarship that has an impact on business and society, and Newton’s support is greatly valued by the School.”
Newton’s relationship with Cambridge University is built on a foundation of academic and sporting excellence. Newton has been the title sponsor of the Women’s Boat Race of Cambridge and Oxford Universities since a partnership was formed in 2010. The initiative aims to support and promote the development and improvement of the standard of women’s rowing clubs and equality in the sport. Newton’s parent company, BNY Mellon, is the title sponsor of the men’s race, held on the River Thames each spring. The two firms are working towards parity for the Women’s Boat Race and the Men’s Boat Race, in a joint initiative that will bring The Newton Women’s Boat Race to the Tideway in 2015, ensuring both events take place on the same day over the same historic Putney to Mortlake course.
About the Newton Centre for Endowment Asset Management
Based within Cambridge Judge Business School, the Centre is dedicated to high quality research and practice related to long-horizon investing. Many institutions, including endowments, foundations, charities, families and sovereign funds, have a long-term focus, and they confront a unique set of investment challenges. The Centre’s primary objective is to participate in research and teaching that extends academic knowledge and practitioner understanding of how to address these issues. www.ceam.jbs.cam.ac.uk
About Professor Elroy Dimson
Elroy Dimson is chairman of the Newton Centre for Endowment Asset Management at Cambridge Judge Business School. He also chairs of the Strategy Council for the Norwegian Government Pension Fund and the Advisory Board for FTSE Group. Professor Dimson serves on the investment committees of Guy’s & St Thomas’ Charity and the Foundation for Social Entrepreneurs. His publications include Triumph of the Optimists, Endowment Asset Management, the Global Investment Returns Yearbook, and many journal articles. He is emeritus professor of finance at, and gained his PhD from, London Business School. www.ceam.jbs.cam.ac.uk/people
About Dr David Chambers
David Chambers is Reader in Finance and Academic Director of the Newton Centre for Endowment Asset Management at Cambridge Judge Business School. He currently holds a JM Keynes Fellowship at Cambridge and in 2012 visited Harvard Business School as the Thomas McCraw Fellow. Prior to returning to full-time education in 2001, he worked for 20 years in investment banking at Barings, Hotchkis & Wiley, and Merrill Lynch. David has published in Journal of Finance, Journal of Financial and Quantitative Analysis, Journal of Economic Perspectives, Economic History Review, and other journals. His PhD is from the London School of Economics. www.ceam.jbs.cam.ac.uk/people
About Cambridge Judge Business School
Situated within one of the world's most prestigious research universities, and in the heart of the Cambridge Cluster, Cambridge Judge Business School leverages the power of academia for real world impact. Since 1990, the School has forged a reputation as a focus of rigorous thinking and high-impact transformative education. Cutting edge research is rooted in real-world challenges, and students, clients and future leaders are drawn from a diversity of backgrounds and countries. www.jbs.cam.ac.uk
About Newton
Newton is a London-based global asset management subsidiary of The Bank of New York Mellon Corporation and part of BNY Mellon. With assets under management of £50.9bn (as at 30 June 2014) including assets managed by Newton Investment Management Limited as dual officers of Newton Capital Management Limited and The Bank of New York Mellon, Newton's group of affiliated companies provides a broad range of investment products and services to pension funds, charities and corporations. News and other information about Newton is available at www.newton.co.uk or follow us on Twitter @NewtonIM.
About Helena Morrissey CBE
Helena Morrissey joined Newton in 1994 as a fixed income fund manager and was appointed CEO in 2001. In 2010, Helena founded the 30% Club, a cross-business initiative aimed at achieving 30% women on UK corporate boards by 2015 through voluntary, business-led change. This has become an international approach, with 30% Clubs in the US, Hong Kong and Ireland. She also chairs Opportunity Now, Business in the Community’s gender diversity campaign. In 2014 Helena was appointed Chair of the Investment Management Association, the UK’s industry trade body. Voted one of the 50 Most Influential People in Finance by Bloomberg Markets Magazine in 2013, Helena is a Fellow of the Society of Investment Professionals, a Fellow of the London Business School, and a member of Cambridge Judge Business School’s Advisory Board. She was appointed CBE in the 2012 New Year’s Honours list. A Cambridge philosophy graduate, she began her career as a global bond analyst with Schroders in New York. Helena is married with nine children.
About BNY Mellon
BNY Mellon Investment Management is one of the world's leading investment management organizations and one of the top U.S. wealth managers, with $1.6 trillion in assets under management. It encompasses BNY Mellon’s affiliated investment management firms, wealth management services and global distribution companies. More information can be found at www.bnymellon.com.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of June 30, 2014, BNY Mellon had $28.5 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com, or follow us on Twitter @BNYMellon.
All information source BNY Mellon as of June 30, 2014. This press release is qualified for issuance in the UK, Europe and US and is for information purposes only. It does not constitute an offer or solicitation of securities or investment services or an endorsement thereof in any jurisdiction or in any circumstance in which such offer or solicitation is unlawful or not authorized. Any views and opinions contained in this document are those of the author as at the date of issue; are subject to change and should not be taken as investment advice. BNY Mellon Investment Management EMEA Limited and its affiliates are not responsible for any subsequent investment advice given based on the information supplied. This press release is issued by BNY Mellon Investment Management (US) and BNY Mellon Investment Management EMEA Limited (ex-US) to members of the financial press and media and the information contained herein should not be construed as investment advice. Past performance is not a guide to future performance. The value of investments and the income from them is not guaranteed and can fall as well as rise due to stock market and currency movements. When you sell your investment you may get back less than you originally invested. Registered office of BNY Mellon Investment Management EMEA Limited: BNY Mellon Centre, 160 Queen Victoria Street, London, EC4V 4LA. Registered in England no. 1118580. Authorised and regulated by the Financial Conduct Authority. A BNY Mellon Company.
