April 10, 2008
Ball State University Foundation staff member Thomas Heck has been appointed the organization's first chief investment officer (CIO). The new staff position will help the foundation achieve one of its important strategic plan objectives: focusing on investment gains.
Tony Schneider, chairman of the foundation's board of directors, said it is striving for a richly diversified investment portfolio and an ongoing review of investment strategies. Heck, formerly vice president for foundation operations and treasurer, will now help realign certain investment, finance and operational roles within the foundation staff. He also will work on strategic investment reviews, allocation matters, and preinvestment and postinvestment due diligence and monitoring.
"Tom will now devote virtually 100 percent of his talents and energies to the management of our investment portfolio," Schneider said. "This is a noteworthy achievement of a key strategic goal and long-term investment returns and risk management will be improved."
Last year, Heck earned the designation of chartered financial analyst (CFA). The designation comes from the CFA Institute Board and is recognized worldwide. The title is awarded only after an applicant meets numerous professional and ethical requirements in addition to passing three six-hour examinations covering a body of knowledge set by an international council of investment industry leaders.
The foundation manages residual assets of more than $228 million, representing endowments and available resources for the university and its students. According to the foundation, the work of its investment committee, consultant and staff has achieved investment returns for the past four years of 19.2 percent, 13.6 percent, 14.8 percent and 17.9 percent, ranking it in the first quartile in investment results among its peers.
By Gail Werner, News Center/Update Editor