The University Record, July 10, 1995
The University Endowment Fund is an investment pool for hundreds of endowment funds and funds functioning as endowment. As with a mutual fund, purchase, redemptions and distributions are all calculated based on a participant's share holdings. The fund is valued at $1.2 billion. It is invested in a highly diversified portfolio of stocks, bonds, mortgages, real estate, oil and gas, reorganization investments, venture capital and cash instruments.
This brief report is to inform University Endowment Fund participants of the market value of their shares and their distributions per share. It also provides information on the investment performance of the fund. The investment results shown represent total return, which includes both ordinary income and capital gains (losses).
This report is intended to communicate information on total returns of which distributions are a part. Distributions are made at 5.5 percent of the 12-quarter average share value. The other component of return--reinvested capital gains and, to the extent available, reinvested income--is essential to protecting endowment gifts and endowment distributions against inflation.
The University's investment managers are:
Capital Growth Management; The Common Fund Emerging Markets Fund; Gran-tham, Mayo, Van Otterloo & Co.; Trinity Investment Management Corp.; Marathon Asset Management Ltd.; Marvin & Palmer Associates Inc.
The Common Fund Global Bond Fund; Lowe, Brockenbrough & Tattersall Inc.; STW Fixed Income Management Inc.
Cambridge Associates Inc.
Goal: To protect distributions and share value against inflation.
Market value per share | |
| June 30, 1994 | 4.13107720 |
| Sept. 30, 1994 | 4.20209761 |
| Dec. 31, 1994 |
4.08741902 |
| March 31, 1995 | 4.16480068 |
Distribution per share | |
| Sept. 30, 1994 | 0.055 |
| Dec. 31, 1994 | 0.056 |
|
March 31, 1995 | 0.056 |
| June 30, 1995 | 0.056 |
| 1 quarter | 1 year | 3 years | 5 years | |
| University Endowment Fund | 3.2% | 4.3% |
8.8% | 9.6% |
|
Standard & Poor's 500 | 9.7 |
15.6 | 10.6 | 11.4 |
| Lehman Government/Corporate Bond Index |
5.0 | 4.6 | 7.1 |
9.0 |
| *Consumer Price Index (CPI) | 0.8 | 2.8 |
2.7 | 3.2 |