Thursday, July 15, 2010

Texas Higher Education Funa Managers Put 3% Of Fund In Gold

It may be a good sign or it may be a bad one: the University of Texas Investment Management Co. (UTIMC) has put about 3% of the fund's holdings into gold. The reason given is uncertainty about financial markets and the economy right now; the context makes clear that they're doing so as a hedge. UTIMC supplies funds to both University of Texas and Texas A&M University.

Given the percentage, it's little more than a dip into the pool - but it does show that the gold-as-hedge meme is spreading into more mainstream environs.

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