The University of Chicago

Financial Services

  

1602 Administration and Investment of Endowment Funds

Subject Area: Investments
Responsible Office: Investment
Sponsor: Trustees
Originally Issued: January 1995
Revised: N/A
Refer Questions To: John Kroll, 773-702-1941

Purpose: To provide policy governing the administration and investment of Endowment Funds.

Background

Most endowment funds of the University are pooled for investment purposes in a merger called the Total Return Investment Pool (TRIP). This fund was created in July 1971 to provide greater diversification and lower transaction costs for invested funds. Remaining endowment funds are separately invested either because of gift provisions or because the assets held do not permit pooling for investment purposes.

Policy

  1. If donor gift provisions do not prohibit and the assets donated are conducive to pooling, endowment (true, funds functioning as endowment, and term) funds will be invested in TRIP
  2. If donor gift provisions prohibit pooling or the assets donated are not conducive to pooling, endowment and similar funds will be separately invested by the Investment Office.

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