How have you been a change agent at
your organization? What have you done
that you’re particularly proud of?
I’m particularly proud of the net alpha generated by UTIMCO’s global public equity
portfolio since I joined the organization in
2008. On a less quantitative note, I’m also
very proud of the personal relationships I’ve
developed with smart investors both inside
and outside my organization.
What is the asset class or investment
that keeps you up at night, and why?
While not specific to an asset class, I worry
most about the ability of institutional investors to meet return targets in the current
low-return, low-growth environment. Given
elevated valuations in both public and private markets, this is a concern for me across
What methodologies have you adopted
within your institution?
I have been a proponent of looking at
our portfolio’s aggregate exposures—
geographic, sectors, and currencies—at
both the asset class and endowment levels,
and comparing these to appropriate benchmarks to better understand our positioning
and make smarter investment decisions for
Where do you fall in the passive vs.
For a large institutional investor with a dedicated staff, I believe in active management
in most cases. We have occasionally invested
passively to put on exposure quickly or if the
beta opportunity is highly compelling, but we
have concerns about the alpha-generating
ability of active managers in the asset class.
What are the changes you’d like to see
the institutional investing community
make in 10 years?
I would like to see a better alignment of interests between investment managers and institutional investors, especially with respect to
fees. Specifically, I would like to see fee structures based more on outperformance (over a
relevant benchmark) and less on asset levels
(i.e., fixed management fees).
Who is a manager you don’t currently
work with whose brain you’d like to pick?
I’d love to pick David Swenson’s brain to hear
how he came up with “The Yale Model” as
well as his investment advice in the current
Ideally, where would that meeting take
His favorite coffee shop.
Senior Director, Public Markets Investments, University of
Texas Investment Management Company (Austin, TX)
Amanda has made significant contributions to
UTIMCO’s public markets portfolio since joining
nearly 9 years ago. In her role, she manages some of
the largest relationships for UTIMCO’s endowment.
She also has a talent for identifying up and coming
emerging investment managers.
What is the software investment tool
that helps you most?
Bloomberg has been a useful tool for investment management data and news. We also
use FactSet for performance attribution
and Zephyr StyleAdvisor for performance
What would improve the relationship
between you and managers?
I currently have very good relationships with
our investment managers. The few argu-ably challenging relationships I’ve had have
stemmed from a manager’s lack of transparency or candor.
Why did you choose your current path?
I wanted to invest in an environment with a
global portfolio, a long time horizon, smart
and hard-working colleagues, and a mission
I believe in (education and medical research).