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Fordham University Endowment Fund

Name: Fordham University

Assets Under Management: $692.6 Million (Source: Fordham University on 6/30/2012)

Annual Report: Fordham University Financial Statements June 30, 2012 and 2011

Portfolio Insights: “Fordham University (the University) is an independent, not-for-profit, coeducational, nonsectarian institution of higher learning in the Jesuit tradition located in the City of New York. The University was founded in 1841 and was granted its charter in 1846 by the State of New York.

Investments in equity securities and mutual funds with readily determinable fair values and all investments in debt securities are reported at fair value based upon quoted market prices. Investments in investment companies (consisting of investments in nonpublic equity funds, hedge funds, and private equity funds) are reflected at fair value as estimated and reported by general partners, based upon the underlying net asset value of the fund or partnership.” (Source)

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Top Fordham University Endowment Fund Headlines:

1) On Wednesday, February 4th, Professor Mirabile hosted Eric Wood, the CIO of Ford-ham’s endowment and Greg Eisner, the Head of Strategy for the Dubin Family Office. Both organizations engage in investments within alternatives, but in strikingly different ways based on the stakeholders of each fund. As CIO of Fordham’s endowment, Mr. Wood reports to Fordham’s Finance commit-tee and the University board. The benefit of managing the endowment is that he has no need to worry about cash flow: he can focus on growth. With little need to consider yield and the ability to be illiquid, Mr. Wood can invest more capital in alternative investment strategies than the average portfolio can. He described the endowment as having a “50-30-20 allocation,” where the “20” is alternatives. Recently, the fund has begun to invest in agriculture in developing nations. This offers a good investment as well as being in line with Fordham’s Jesuit mission. (Source)

2) Fordham University has a formal sustainability policy, and a committee comprised of students, staff, administrators, and energy consultants work to implement sustainability programs on campus. A green purchasing policy requires the procurement of environmentally friendly appliances, electronics, lighting, and cleaning and paper products. Fordham has signed on to PlaNYC, the mayor’s challenge to reduce greenhouse gas emissions 30 percent by 2017. Through a combination of energy-saving techniques, such as temperature setbacks, energy management systems, heat recovery systems, and lighting sensors, the university has achieved a 23 percent reduction in emissions since 2005. (Source)

3) With Professor Kelly’s guidance, students actively manage a $1 million global balanced portfolio — funds from Fordham University’s actual endowment — consisting of securities representing the major asset classes of equities, bonds, FX, and hard assets including commodities and real estate securities. This real-world investing experience is very impressive to prospective employers. (Source)

4) Fordham University continues to maintain solid student demand as a large, urban, Jesuit university located in the New York metropolitan area. The University has three campuses: residential campuses in the Bronx (Rose Hill) and Manhattan (Lincoln Center), and a commuter campus in Westchester. The University also has a biological research field station in Armonk. Fordham’s enrollment at its three campuses has been steadily growing and reached a high of 13,310 in fall 2010, up 5% from fall 2009. Undergraduate students represent 59% of enrollment, with the remaining students enrolled in graduate and professional programs, such as law and business. (Source)

5) Denzel Washington has created a scholarship fund at Fordham University. Actor Denzel Washington believes in the power of education — so much so that he just created an unbelievable endowment for Fordham University. Washington, who earned a Bachelors of Arts in Drama and Journalism from Fordham in 1977, gifted a whopping $2 million to the school to create an endowed theater professorship, with an additional $225,000 in scholarship funds. “Show me a successful individual, and I’ll show you someone who has had positive influences in his or her life,” the award-winning actor said in a statement. (Source)

About Richard C. Wilson