Oxford endowment fund boss Sandra Robertson to surrender funding position | USAEMALL.com

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Sandra Robertson, who has run Oxford university’s £6.5bn endowment fund since it was founded almost two decades ago, is stepping back as chief investment officer, according to three people familiar with the
situation.

Robertson, who is currently CIO and chief executive of Oxford
University Endowment Management, will give up the investment role as
of January next year and remain CEO. Deputy-CIO Neamul Mohsin will
become chief investment officer.

OUEM was established in 2007 and is one of the largest endowments in
the UK. It runs money for individual Oxford colleges, including Christ
Church, Brasenose and Balliol, as well as other institutions such as
Radley College and the Wolfson Foundation.

The Oxford endowment fund has gained 4.4 per cent a year over the past three years to December 31, and 8.6 per cent a year since the start of 2009, according to its annual report.

At the end of 2023, a third of OUEM’s assets were invested in private equity, with a further 35 per cent in public equities. The remainder is largely split across credit, property, short-term bonds and cash.

The endowment, whose board is stacked with luminaries from the worlds of business and finance, has been run by Robertson since it was founded. Sir Paul Ruddock, chair of OUEM, is also in the process of stepping down after more than a decade in the role. 

Two years ago the Financial Times reported that OUEM had lost more than half of its investment staff over an 18-month period, marking a rare period of turbulence at the institution. Departures included the then-deputy CIO Jack Edmondson. At the time, some investors said that Roberston’s “hierarchical” leadership style and frustration with the length of her tenure had contributed to some of the departures.

At the time, Ruddock said Robertson had “built a very strong team, respected by peers, investors and other members of the investment industry” and that OUEM served as an “engine room for talent”.

Before joining OUEM in 2007, Robertson held senior positions at the Wellcome Trust, the UK’s largest endowment, latterly as co-head of portfolio management.

That £36.8bn foundation is undergoing its own generational shift on its investment team. Chief investment officer Nick Moakes is retiring in March after 17 years. He will be replaced by Lisha Patel and Fabian Thehos, who are currently managing directors of Wellcome’s investment team.

OUEM declined to comment.