The Richmond Jewish Foundation (RJF) is pleased to announce a new partnership with Fund Evaluation Group, LLC (FEG) who will be the new Outsourced Chief Investment Officer (OCIO). After a thorough process, the RJF Investment Committee, led by committee chairman Rick Looney, identified FEG as a perfect fit for RJF, and our community. “We are delighted to begin this partnership with FEG,” said Looney. “The fiduciary responsibility is not taken lightly, and we can’t wait to reach new heights.”
The partnership comes at an exciting time for RJF as it’s currently managing over $50 million in close to 300 active funds, ranging from donor-advised funds, endowment funds and funds held for our Jewish agencies, schools and local nonprofits.
The traditional investment consulting model provides advice and guidance on managing your donations, but the final investment choices and execution lie with the Foundation’s Investment Committee.
In contrast, an OCIO will make investment decisions per the Investment Committee’s strategic guidance and provide daily oversight to the portfolios. This in turn provides additional management and speedier decision-making when investing donations.