Please click here to read a brief progress report from the CEO of TIFF Advisory Services, Inc. on the investment team transition first reported to our members on December 8, 2009.

Mutual Fund Governance - Please click here for information regarding the addition of a director to the board of TIFF's four mutual funds. By clicking on this link, you will leave the TIFF General News section of the website and enter the TIFF Mutual Fund News section of the website.

Distributions - Please click here for information regarding distributions by two TIFF mutual funds. By clicking on this link, you will leave the TIFF General News section of the website and enter the TIFF Mutual Fund News section of the website.

By year-end 2010, TIFF Advisory Services Inc. will undergo a personnel transition aimed at perpetuating its capacity to pursue investment excellence while enabling our founding president and chief investment officer, David Salem, to devote increased time to projects outside TIFF. To read memoranda about the transition from CEO Richard Flannery and from David himself, please click here.

Policy Portfolio Changes - Please click here for information regarding pending changes to the policy portfolio of a TIFF mutual fund. By clicking on this link, you will leave the TIFF General News section of the website and enter the TIFF Mutual Fund News section of the website.

On October 1, 2009, the TIFF Education Foundation (TEF) hosted in Cambridge, Massachusetts, its annual Endowment Management Seminar. Modeled loosely after the broadcast series Inside the Actor's Studio, this event comprised interviews with five highly respected institutional investors: Ian Wace (Marshall Wace Asset Management), who discussed both the "buy" and "sell" side of public equity markets; Jeremy Hosking (Marathon Asset Management UK), who described mark-to-market accounting as well as opportunities and perils in the marketable stock arena; Michael Eisenson (Charlesbank Capital Management), who reflected on his extensive experience in private equity investing as well as his involvement in philanthropy; Josh Kopelman (First Round Capital) who described the changing landscape of venture capital investing; and Antoine van Agtmael (Emerging Markets Management), who discussed the opportunities and risks involved in investing in emerging markets. Please click here to read each interviewee's biography and listen to the audio recordings.

We are pleased to announce that Richard Lindsey, chief executive officer of the Callcott Group LLC, a New York-based consulting firm specializing in risk management and portfolio allocation, will join the board of TIFF Advisory Services (TAS) in December. Rich is also chairman of the International Association of Financial Engineers and serves as the independent director for the Options Clearing Corporation. Previously, he was a finance professor at Yale University, chief economist and director of market regulation at the Securities and Exchange Commission, and, until December 2006, president of Bear, Stearns Securities Corp.

We are pleased to announce that Collette Chilton, chief investment officer at Williams College, will join the board of TIFF Advisory Services (TAS) in September. Before being named in 2006 to oversee the Williams endowment, Collette was CIO of the Lucent Technologies Inc. pension fund and of the Pension Reserves Investment Management Board of the Commonwealth of Massachusetts. She previously worked at First National Bank of Boston and Citicorp Investment Bank. Collette is a member of the Dartmouth College investment committee and of the board and investment committee of the ICMA Retirement Corp., a not-for-profit that serves public employees.

Policy Portfolio Changes - Please click here for information regarding the July 1, 2009 changes to the policy portfolio of a TIFF mutual fund. By clicking on this link, you will leave the TIFF General News section of the website and enter the TIFF Mutual Fund News section of the website.

We are pleased to announce that Erik Lundberg, chief investment officer at the University of Michigan, will join the board of TIFF Advisory Services (TAS) in June. Before taking up his duties in Ann Arbor in 1999, Erik was a corporate investment strategist, overseeing pension and other plan assets. He is a CFA charterholder.

Will McLean, chief investment officer at Northwestern University, and John Craig, executive vice president and chief operating officer of The Commonwealth Fund in New York, have joined the board of the TIFF Education Foundation (TEF). Will has been a stalwart on the board of TIFF Advisory Services (TAS) since 2000. During his tenure, Will has tirelessly and skillfully chaired multiple committees as well as the TAS board itself. Although Will stepped aside from his TAS role in March, we are delighted that he has agreed to remain within the TIFF family by shifting his wise counsel to an expanded TEF board, where he has been joined by John Craig. We thank John profusely for returning to the TIFF fold for a second tour of duty - John was a founding board member when TIFF was organized in 1991 and served until 2001.

TIFF Mission and Outlook - Please click here for information regarding TIFF's origins, evolving mission and the outlook for certain forms of investing in which TIFF is engaged. By clicking on this link, you will leave the TIFF General News section of the website and enter the TIFF Mutual Fund News section of the website.

Shift to Equities - Please click here for information regarding a TIFF mutual fund's objectives and explaining why active consideration is being given to shifting more capital into equities and other securities. By clicking on this link, you will leave the TIFF General News section of the website and enter the TIFF Mutual Fund News section of the website.