The Rockefeller Foundation is helping to finance a startup hoping to build exchange-traded funds for nonprofit organizations and direct the profits back to their causes, according to Reuters. The foundation awarded a $300,000 grant to Impact Shares, a Dallas-based firm that aims to offer charities the ability to create ETFs that will be sold to the public.

Louisiana State University has completely outsourced its $454m endowment to Cambridge Associates after beginning a partially outsourced model with the firm in July of last year, finds Institutional Investor. The university fund has underperformed its U.S. peer group in recent years, as it lost 4.66% in fiscal year 2016, exceeding the average 2.4% loss posted by its higher education counterparts.

Since completely divesting from fossil fuels in 2011, Hampshire College’s endowment has performed better (6.4%) than the average return of the more than 800 colleges tracked by the Bloomberg Endowment Index (4.5%). Hampshire has been credited as the first college to be divested from fossil fuels. Huffington Post has the story.

Facing a potential lawsuit from the University of Louisville, fired foundation officer Kathleen Smith and her husband transferred five properties they own (valued at nearly $800,000) to shell companies, reports the Courier-Journal. With the board’s chairman publicly admitting it may consider litigation, Smith and her husband’s actions may be deemed fraudulent.

Canadian university endowments and pension plans reported an increase of 1.53% returns during Q2 2017, marking their fifth straight quarter of positive results, writes Securities Lending Times. Based off data from BNY Mellon’s Canadian Master Trust Universe, universities reported a median return of 1.43%, slightly lower than public plans.