Smart Money Managers

The Duke Management Company (DUMAC), which manages Duke's $7.5 billion in investments, including the endowment and the employees' retirement plan, has a new head. In January, Neil Triplett '93, M.B.A. '99, an investment manager who headed the management operation's Hedged Strategies group for the past six years, succeeded Thruston Morton as president and chief executive officer.

As an investment manager for DUMAC, Triplett has managed Duke's hedge fund portfolio and participated in the overall strategy development for Duke's $6 billion long-term pool and $1 billion employees' retirement plan.

He also led the latest review of Duke's investment policy. The university's endowment grew to approximately $4.5 billion during the fiscal year that ended June 30, 2006.

Before joining DUMAC, he served as banking officer for Wachovia Bank from 1993 to 1996, when he was promoted to assistant vice president.

Morton, who assumed leadership of DUMAC in September 2000 after a twenty-two year career at J.P. Morgan and Company, strengthened DUMAC's investment team and led its investment strategy over the subsequent six years. He plans to start his own investment firm.

In fiscal 2006, DUMAC's investments earned a 20.2 percent return, placing Duke third among the fifty largest college and university endowments. Over the past ten years, Duke's returns of 16.3 percent have ranked second in the nation in this group.