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American University in Cairo Endowment Fund

Name: The American University in Cairo

Assets Under Management: $550 Million (Source: American University in Cairo on 6/30/2013)

Annual Report: The American University in Cairo Annual Report 2012-2013

Portfolio Insights: “Endowment opportunities include scholarships, professorships and funds to support teaching, civic engagement and research. Gifts of cash or stock can establish an endowed fund. Pledges to complete funding may be made over several years. If a fund is established through a multiyear commitment, the terms of the pledge, including the timing of pledge payments and a confirmation of gift designation, must be outlined in a gift agreement. A minimum of $50,000 is required to establish a new endowed fund at AUC.

AUC’s current spending policy allows up to 5 percent of the rolling three-year average market value of endowment funds calculated as of December 31 of each year to be expended annually from current income and capital appreciation. Should the market value of an endowment drop below the amount contributed, spending will be limited to the current interest and dividends income until the contributed value has been restored.” (Source)

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Top American University in Cairo Endowment Fund Headlines:

1) The University Educational Endowment Fund of the American University in Cairo, Egypt, was established in 1976 by the Agency for International Development (AID) with a local currency grant equivalent to $36 million. The Endowment Fund was intended to earn income to support the University by investing in Egyptian enterprises and business ventures. An audit by AID in July 1976 revealed serious management, financial, and operational deficiencies in the Fund’s administration and questioned whether such investment was feasible given the uncertain economic climate in Egypt.

U.S. officials in Egypt strongly support continued financial assistance for the American University in Cairo and believe that the University contributes greatly to United States-Egypt relations. Although AID’s severe criticisms of the Endowment Fund administration were valid, circumstances in Egypt appear to have changed since the Fund’s original investments were made, and the investment climate is greatly improved. (Source)

2) Jul 28, 2014 – Janice Emery was named chief investment officer of the American University in Cairo, Egypt, said Brian MacDougall, executive vice president for administration and finance, in an e-mail. She will oversee almost $600 million in endowment assets from a New York office and start Sept. 15, Mr. MacDougall said. Ms. Emery replaces Michael Stambaugh, who left earlier this year to become managing director, investments, at the $2 billion Alfred P. Sloan Foundation, New York. Ms. Emery was previously adviser to the $160.5 billion New York City Retirement Systems in the mayor’s office and a designated trustee on four of the five pension boards. Officials in the mayor’s office could not provide further information by press time. (Source)

3) May 23 2012, Cairo, Egypt– The American University in Cairo (AUC) and Abraaj Capital, a leading private equity firm investing in global growth markets, today announced the creation of the “Abraaj Capital Professorship in Private Equity” at the School of Business at AUC.

“Abraaj Capital is one of the largest private equity firms in growth markets worldwide and we are delighted with its commitment to our business curriculum. This professorship enables AUC to attract a leading international scholar who will create innovative educational and research opportunities for our students seeking careers in the financial industry,” said Lisa Anderson, University President. (Source)

4) In Q1 2009, the American University in Cairo announced that it was considering investing in hedge funds in order to achieve a diversified alternative investment portfolio. At this time it was hoping to make a decision by the second quarter of the year. (Source)

5) The American University in Cairo (AUC) is a world renowned institution for training Islamist terrorists using traditional American methods as seen in other examples such as Osama Bin Laden and his homies. The university is still recovering from the Team America[Fuck Yeah!] attack on Egypt in their attempt to capture Durka Dukra Mohammed Jihad in 2004. (Source)

About Richard C. Wilson