Phil Kligman

Portfolio Manager-Equities at

University of Pennsylvania (Investment)

Consumer Services

Miscellaneous

Finance

Profile

Mr. Phil Kligman, CFA MBA, is a Managing Director at University of Pennsylvania.
He joined Penn’s Office of Investments in 2007 and manages the public equities and fixed income investment programs for the University's endowment and pension plans.
Prior to joining Penn, he worked at T.
Rowe Price for eight years in the fixed income division as a trader and analyst.
He worked primarily on the municipal trading desk, helping manage several retail mutual funds and large separate accounts.
From 1996 to 1999, he worked for Duke Management Company as an investment analyst across asset classes.
He holds a BA from Duke University and an MBA from University of Maryland.
Phil is a CFA charterholder.

Phil Kligman active positions

Companies	Position	Start
University of Pennsylvania (Investment) University of Pennsylvania (Investment) Investment Trusts/Mutual FundsMiscellaneous Penn Office of Investments’ endowment is invested in the Associated Investments Fund (AIF), a pooled investment vehicle in which the many individual endowments and trusts hold units. The Office of Investments manages the AIF. A distinguished Investment Board, consisting of Penn alumni and University leadership, oversees the activities of the Office. They seek to share the University’s time horizon with their partners, providing them with stable, patient, and contrarian long-term capital. In both public and private markets, Penn Office of Investments views investments as the ownership of stakes in underlying businesses. They evaluate investments based upon the fundamental value created by the businesses over time, not by short-term performance relative to a benchmark.	Portfolio Manager-Equities	01/01/2007

All active positions of Phil Kligman

Former positions of Phil Kligman

Companies	Position	End
DUMAC, Inc. DUMAC, Inc. Investment ManagersFinance DUMAC seeks to achieve an annualized real rate of return to fund the University’s spending and to allow for growth of the endowment after considering the effects of inflation. The firm measures actual allocation of investment exposures against target allocations articulated in their investment policy.	Corporate Officer/Principal	-

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Private companies	4
University of Pennsylvania (Investment) University of Pennsylvania (Investment) Investment Trusts/Mutual FundsMiscellaneous Penn Office of Investments’ endowment is invested in the Associated Investments Fund (AIF), a pooled investment vehicle in which the many individual endowments and trusts hold units. The Office of Investments manages the AIF. A distinguished Investment Board, consisting of Penn alumni and University leadership, oversees the activities of the Office. They seek to share the University’s time horizon with their partners, providing them with stable, patient, and contrarian long-term capital. In both public and private markets, Penn Office of Investments views investments as the ownership of stakes in underlying businesses. They evaluate investments based upon the fundamental value created by the businesses over time, not by short-term performance relative to a benchmark.	Miscellaneous
Duke University Duke University Other Consumer ServicesConsumer Services Functions as a College/University	Consumer Services
University of Maryland University of Maryland Other Consumer ServicesConsumer Services Functions as a College/University	Consumer Services
DUMAC, Inc. DUMAC, Inc. Investment ManagersFinance DUMAC seeks to achieve an annualized real rate of return to fund the University’s spending and to allow for growth of the endowment after considering the effects of inflation. The firm measures actual allocation of investment exposures against target allocations articulated in their investment policy.	Finance