Professor Elroy Dimson, the world’s foremost authority on the history of financial markets and a leading practitioner in endowment investing, has joined the team managing the investments of Gonville & Caius.
Known for his focus on long-term returns and sustainable investment strategies, Prof Dimson will add his extensive expertise to the College’s Investment Committee as it seeks to extend the scale of support for future generations of students. The College currently subsidises each student by some £5,000 a year above the level of tuition fees to protect its distinctive and highly successful system of small-group teaching.
As an expert in both investment theory and practice, Prof Dimson is uniquely fitted to support Caius' efforts to secure the future financing underpinning its world-renowned education and research. He currently chairs the Newton Centre for Endowment Asset Management at Cambridge Judge Business School and is Emeritus Professor of Finance at London Business School.
His research focuses on long horizon investing, and he and his co-authors have pioneered long-term market return research in 23 countries from 1900 to the present – a project chronicled in their book “Triumph of the Optimists” and in many subsequent publications.
Prof Dimson’s practitioner credentials are equally impressive: from 2007-16 he was a Council Member of the Norwegian Government Pension Fund Global, one of the largest sovereign wealth funds in the world, chairing the Fund’s Strategy Council from 2010-16. A co-designer of the FTSE 100 index, he chairs the Academic and Policy Boards for FTSE Russell.
He also has experience of UK charity endowments, sitting on the Investments Committees of Guy’s & St Thomas’ Charity and UnLtd (the Foundation for Social Entrepreneurs) from 2007-16.
Prof Dimson said: “Gonville & Caius has a distinguished membership and alumni, a history spanning many centuries, and a deep commitment to future generations. My areas of specialisation—investing for the long term and sustainable investment strategies—complement the perpetual horizon of the College. I look forward to learning from the deep knowledge of the Committee and the wisdom of the College Fellowship, while also contributing to the strategic direction of the Endowment.”
Dr David Secher, Senior Bursar of Caius, said: “We are delighted that Elroy is joining Gonville & Caius and count ourselves very lucky to have such a world-renowned expert in long-term investing contribute to our Investment Committee. Changes in the funding of higher education coupled with global competition for the best academics and students puts us under increased financial pressure. Our Endowment of £192 million has been carefully nurtured to provide educational support to our current students. Growing this Endowment is critical if we are to maintain our academic reputation and continue to support future generations.”
Prof Dimson will be joining Caius as a Bye-Fellow and a member of the Investments Committee with immediate effect.