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Carleton University Endowment Fund

Name: Carleton University

Assets Under Management: $544.9 Million (Source: Carleton University on 4/30/2014)

Annual Report: Consolidated Financial Statements of Carleton University Year ended April 30, 2014

Portfolio Insights: “Carleton University was incorporated as a university in 1943 under the laws of the Province of Ontario. The University is dedicated to providing post-secondary and graduate education and to conducting research. Sudbury Neutrino Observatory Institute is a joint venture of the University and three other Canadian universities, which performs research in sub-atomic physics. The University’s proportionate share of the Institute’s operations has been included in these consolidated financial statements.

The University accounts for interest rate swaps as hedges. The University formally documents the relationship between the hedging instruments and the hedged items, as well as its risk management objectives and strategies for undertaking various hedging transactions. The University also formally assesses, both at the hedge’s inception and on an on-going basis, whether the interest rate swaps are used in hedging transactions are highly effective in offsetting changes in cash flows of the hedged items.” (Source)

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Top Carleton University Endowment Fund Headlines:

1) Carleton University’s endowment fund is managed like a mutual fund—contributions are pooled and invested together. Carleton’s investment committee determines the university’s overall investment policy and objectives, and choice of professional investment counsel. The pooled endowment fund is invested in Canadian stocks and bonds and global equity. (Source)

2) Carleton University today announced it is investing $1.6 million in a wide range of measures to make its campus safer for students and employees this fall.

Over the past few months, the university has initiated a number of upgrades and enhancements to its network of emergency phones, lighting, pathways, signs and closed-circuit television (CCTV) cameras. It has also introduced the use of swipe cards in its chemistry and biology buildings, with similar retrofits being reviewed for other buildings.

The campus improvements are the result of eight broad recommendations identified in the university’s personal safety audit report.

“Students, staff and visitors to Carleton University will see a big difference this September with many infrastructure improvements and more still to come,” says Dr. Roseann O’Reilly Runte, the university’s president and vice chancellor. (Source)

3) Carleton University faculty and staff joined students and the Board of Governors in applauding today’s announcement by the federal and provincial governments of an investment of $52.5 million in the university’s Waterfront Project. This represents the single largest capital investment in Carleton’s history.

The project will see two buildings constructed on campus as part of the university’s ongoing efforts to strengthen its capacity to contribute to the research and innovation in nanoscience, engineering, communications, international relations and public policy for which Carleton is renowned. (Source)

4) Carleton University’s endowment fund is self-described as being managed like a mutual fund. This fund can have money invested in coal, oil, and gas companies as long as the company is stable and producing a return for the university, according to Carleton’s website.

Before an access to information request was made by McGill’s divestment campaign, the university’s endowment information was not posted for the public. Carleton’s specific endowment fund investments are currently not accessible to the public without a request. (Source)

5)  Internationally renowned philanthropist, developer, architect and Carleton University graduate David J. Azrieli is donating $5.5 million to the university’s School of Architecture. This gift brings Azrieli’s lifetime philanthropic investment in Carleton to more than $8 million.

“I am extremely proud of my Carleton University degree,” said Azrieli, who graduated from the school of architecture in 1997 when he was 75 years old. “I have a vision of contributing to the education of architects in Canada and around the world and I am privileged to help Carleton strengthen its leadership position in the field of architecture.”

The donation will allow the university to increase the architecture school’s enrolment by 100 students over the next five years, from the current level of 340 full-time “equivalent” students, and to expand the range of programs it offers. (Source)

About Richard C. Wilson