The Boston College endowment exists to support the goals and operations of the University over the long term so that current and future students, faculty and staff benefit from investments.  The endowment provides a permanent source of funding for such purposes as financial aid, faculty chairs, scholarly research and writing, student formation and campus maintenance.

Investment and Endowment Committee

The Investment and Endowment Committee of the Board of Trustees has fiduciary responsibility for overall investment policy, asset allocation, and the selection of professional investment managers.  The University’s Chief Investment Officer and staff provide professional support to the Committee.

Investment Objective and Spending Policy

The long-term performance objective of the endowment portfolio is to attain an average annual total return that exceeds the University’s spending rate plus inflation within acceptable levels of risk over a full market cycle.

The University has a spending policy for its donor restricted endowment, as approved by the University’s Board of Trustees, that aims to provide a stable and predictable source of funding for the University’s academic and other strategic initiatives and also to protect the real value of the endowment over time.  Under this policy the amount that can be expended for current operations is a weighted average based on two components: prior year spending adjusted for an inflationary factor, and 5% of a twelve quarter moving average of market values.

Manager Review and Selection

The Committee seeks to identify best-in-class professional investment managers from around the world.  It particularly reviews asset allocations, performance of managers and alignment of investments with institutional mission and priorities.  The Committee evaluates investment managers on an ongoing basis using a variety of quantitative and qualitative measures.

Areas of Focus

Investment philosophy & process

Risk adjusted performance relative to benchmarks/peers

Organizational structure

Code of professional conduct

Use of financial leverage

Liquidity terms, fees and other contract provisions

Operational risk control measures

Audited financial statements in accordance with GAAP

Historical Endowment Growth

Endowment growth includes investment performance, cash gifts and pledges, net of support for operations.

$1 billion increase over the past 10 years, net of nearly $1billion distributed in support of the University’s operating budget

Boston College Endowment Market Value (In Millions)

Asset Allocation

As of May 31, 2020.

Boston College Endowment Asset Allocation (Percentage)

Staff

George M. Hakimeh

Investment Officer
george.hakimeh@bc.edu

Mark Kheyfetz

Investment Officer
mark.kheyfetz@bc.edu

Robert J. Kmetzo

Investment Officer
robert.kmetzo@bc.edu


 

David J. Martens

Director of Investment Analysis and Operations
david.martens@bc.edu

Eric M. Sears

Senior Investment Officer
eric.sears@bc.edu

John J. Zona

Chief Investment Officer & Associate Treasurer
john.zona@bc.edu