Notes
1 This portion of the chapter is adapted from Greycourt White Paper No. 38: Open Architecture as a Disruptive Business Model (2006), available at www.Greycourt.com. The paper appeared in slightly different form in The NMS Exchange 7, no. 1(August 2006): 7, and was subsequently published as Chapter 8 in A. Srikant and C. Anand, eds., Disruptive Technologies: Concepts and Application (Hyderabad, India: Icfai University Press, 2006).
2 Clayton Christensen, Sally Aaron, and William Clark, “Disruption in Education,” from the EDUCAUSE 2001 Forum for the Future of Higher Education.
3 This portion of the chapter is adapted from Greycourt White Paper No. 49: The Outsourced CIO Model (2010), available at www.Greycourt.com. The paper was subsequently published, in slightly different form, as “The Outsourced Chief Investment Officer,” Investments & Wealth Monitor Featured Article (May/June 2011). Special thanks to Margaret Towle for her contributions to the original paper.
4 A recent NACUBO-Commonfund study of smaller endowments indicates that only 11 percent of funds between $100 million and $500 million employed in-house CIOs. See 2009 NACUBO-Commonfund Study of Endowment Results. The percentage for families is far lower.
5 “The New Gatekeepers: Winning Business Models for Investment Outsourcing,” (Casey Quirk, 2008).
6 “Inaugural 2009 Single-Family Office Study,” Family Wealth Alliance. The study is available for purchase from the Family Wealth Alliance.
7 “Opportunity costs” refers ...
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