In the most recent period, Carthage was buoyed by a 20 percent return in Vanguard’s international growth fund, 16.5 percent in its small-cap index and 15 percent in the total stock market index, said Abt, who was the school’s CIO for 18 years before retiring June 30.
His parting advice to the school’s finance committee, which will help oversee the endowment in the future, was to be aware of increasing market volatility in the next six to 18 months, he said in an interview.
“2017 was an extremely unusual year,’’ Abt said. “The standard deviation during the calendar year of 2017 was the lowest in over 40 years.”
This article was provided by Bloomberg News.