UA-R-GC-1914-01-01-1981-10-21_Page-003

I PRESENT: MINUTES MEETING OF THE FINANCE COMMITTEE THE AMERICAN UNIVERSITY IN CAIRO OCTOBER 21, 1981, 11 A.M. RIVER CLUB, NEW YORK CITY Messrs. McCloy, Chairman, Hedlund, Bickford, Stone, Crary, Pedersen, Snaith 1. The Committee's agenda was approved. 2. Messrs. Campbell and Allen of Brown Brothers Harriman discussed the University's portfolio and presented certain performance data and analysis of the securities in the portfolio. They were then thanked for attending and were excused from the meeting. The report of the Staniford firm managing a small portion of the University's portfolio was next discussed and it was decided to make no recommended change with respect to these managers. Discussion followed as to the performance of the main portfolio and it was decided that it would be appro-priate to recommend to the Trustees consideration of other investment managers. Mr. McCloy noted that he was no longer connected with Brown Brothers Harriman but was forming an investment management firm to be run by Mr. John Tsu. He also noted that he had interviewed several other firms. Dr. Pedersen suggested that the Common Fund be reviewed as another pos­sibility. After further discussion, it was decided that