The investment office seeks to generate long-term annualized returns in excess of the market with significantly less risk. The three keys to the investment office's activities are:
- Generating excess returns.
- Creating a portfolio with the ability to weather all market environments.
- Generating asymmetric returns relative to risk.
The investment office is focused on conducting deep primary research on existing as well as new managers and opportunity sets. The office strives to develop long-term relationships with investment partners, resulting in low portfolio turnover. The investment office balances using a concentrated number of portfolio managers with maintaining sufficient diversification to mitigate volatility at the total portfolio level that could impact total spending by the university. The portfolio includes investments across a wide variety of asset categories and geographies.
Over the past 13 years, the endowment has grown from approximately $559 million to $1,205 million net of spending as of June 30, 2022.