Skip to main content

Secondary navigation:

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 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. 

The annual payout from the endowment is approved each year as part of the University's budget planning process.