Tuscaloosa News – A committee of University of Alabama trustees voted to pull some investments from stocks, instead buying more stable U.S. and international bonds in an effort to avoid potential drops in the stock market.
International bonds will be bought as well as domestic to hedge against the deflating dollar, said Thomas Gale, investment officer for the system.
“In light of the fact that the stock market is no longer cheap, we are reducing our stock exposure slightly, thus reducing the volatility of the endowment fund,” Gale said after the meeting.
