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Hobart and William Smith Colleges Endowment Fund

Name: Hobart and William Smith Colleges

Assets Under Management: $403.3 Million (Source: Hobart and William Smith Colleges on 5/31/2013)

Annual Report: Hobart and William Smith Colleges Financial Statements May 31, 2014 and 2013

Portfolio Insights: “Hobart and William Smith Colleges (the Colleges) are coordinate colleges located in the Finger Lakes Region of Central New York. Hobart College for men and William Smith College for women are selective, residential liberal arts institutions.

The investment objective of the Colleges is to invest assets in a prudent manner to achieve a long term rate of return sufficient to fund a portion of its s pending and to increase investment value after inflation. The Colleges’ investment strategy incorporates a diversified asset allocation approach that maintains, within defined limits, exposure to domestic and international equities, fixed income, real estate, commodities, and private equity markets. The majority of the Colleges’ investments are managed in a pooled fund that consists primarily of endowment assets.” (Source)

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Top Hobart and William Smith Colleges Endowment Fund Headlines:

1) While investments in capital projects build the campus infrastructure, the  programs, people and the ongoing maintenance of the campus are supported through the endowment.

The Colleges endowment consists of many separate funds – named and general – that have been established throughout the history of Hobart and William Smith. Invested collectively, the funds generate income that supports all aspects of the campus and HWS programs. The Board of Trustees carefully invests the funds and uses a formula to determine the appropriate amount of interest and appreciation (total return) that should be used in any given year. This strategy ensures a balance between the need for current-use dollars and the long-term integrity of the endowment. (Source)

2) Hobart and William Smith Colleges is at 54.7%, up from 51.6% in June. According to a recent report by consultancy Greenwich Associates, just 3% of endowments and pension funds that invest in hedge funds say they plan to reduce their exposure significantly over the next three years, while more than one-third expect to significantly increase it. As long as the stock market remains erratic, that trend is likely to continue. (Source)

3) Hobart and William Smith Colleges is a private institution that was founded in 1822. It has a total undergraduate enrollment of 2,368, its setting is urban, and the campus size is 170 acres. It utilizes a semester-based academic calendar. Hobart and William Smith Colleges’s ranking in the 2015 edition of Best Colleges is National Liberal Arts Colleges, 61. Its tuition and fees are $47,908 (2014-15).

Hobart and William Smith Colleges are together a liberal arts college situated on the shore of Seneca Lake in Geneva, New York. Hobart College and William Smith College are coordinate liberal arts colleges, which means that men attend Hobart College while women attend William Smith College. Male and female students attend classes together and share one campus but receive degrees from their respective colleges. Greek life is popular and prevalent among students at Hobart College, but William Smith College does not offer sororities. Known as the Hobart Statesmen, the men’s teams compete in the NCAA Division III, except for the lacrosse team, which competes in the NCAA Division I Northeast Conference. The William Smith Herons compete in the NCAA Division III. (Source)

4) In September 2006, Hobart and William Smith Colleges embarked on the most ambitious capital campaign of our history. At the national kick-off party for Campaign for the Colleges at Lincoln Center, President Mark Gearan announced, “With both gratitude and inspiration from the past, we have set an ambitious agenda for the future.” He stated the Campaign charge: “To move these Colleges so that future generations will have the benefit of a world class education; this is our moment.”

Campaign for the Colleges supports the Colleges’ strategic plan HWS 2010. The Campaign seeks to raise a total of $160 million; $65 million is for on-campus improvements including a Performing Arts Center, the renovation of the Scandling Center and athletics facilities, preserving the legacy of the campus, and providing cutting-edge Information Technology services. (Source)

5) Hobart and William Smith Colleges had the next largest endowment among local colleges — and that endowment grew from $175.5 million to $204.9 million during the past fiscal year. St. John Fisher College did not participate in the annual study, but says that for its last fiscal year ending May 31, the college’s endowment was worth $69.4 million — $9.1 million more than the year before. Nazareth College had an endowment worth $67.8 million at the end of its last fiscal year compared with $59.8 million the year before. Roberts Wesleyan College’s endowment reached $21.1 million at the end of the latest fiscal year, compared with $18.8 million the year before. (Source)

About Richard C. Wilson