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McGill University Endowment Fund

Name: McGill University

Assets Under Management: $1.30 Billion (Source: McGill University on 6/30/2014)

Annual Report: McGill’s Financial Situation

Portfolio Insights: “The cost-reduction measures are devised to preserve McGill’s academic and research mission and excellence, and balance the budget within the next two years, as planned in the last multi-year budget.

Once the budget is balanced, the University must attempt to generate sufficient surpluses to begin paying off the projected accumulated cash deficit of about $125M, and begin addressing total liabilities in the accumulated deficit.” (Source)

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Top McGill University Endowment Fund Headlines:

1) The McGill Office of Investments manages the McGill University endowment fund, the largest in Canada, which is valued at C$1.278 billion as of March 31. According to data provided by the office, the fund holds shares of Franco-Nevada Corp (TSX: FNV) valued at C$2.897 million, representing its top six equity investment as of June 30. (Source)

2) McGill University announced that it has raised more than a billion dollars in the past nine years. It’s an astounding number, especially in the context of severe cutbacks and under funding at Quebec universities.

“The success of philanthropy and the sustained investment and celebration of government in the importance of education are what will make our society, civil society great.” said Heather Munroe-Blum, principal of McGill University.
Related Stories After a year of clamouring for more university funding from the government, McGill says it knows exactly where to put the money.

“Sixty- percent of our dollars is going to support students,” said Marc Weinstein, VP of Development and Alumni Relations. “This would include internships, scholarships, fellowships, post-doctoral students, libraries, a wide range of opportunities for our students.” (Source)

3) McGill University invests a $1.3 billion pool of money, called an endowment, to help fund the university and as a source of emergency cash. The purpose of an endowment is thus to make money without taking too much risk. Divestment is the opposite of investment – it means getting rid of stocks, bonds, or investment funds that are unethical or morally ambiguous and investing elsewhere instead. McGill’s Board of Governors has already placed several ethical guidelines on the endowment (e.g. tobacco and Burma). The purpose of this campaign, for now, is therefore to add some new ethical guidelines to the way McGill invests. Fossil fuel investments and the tar sands are a risk for investors and the planet – that’s why we’re calling on McGill to divest. (Source)

4) The McGill Office of Investments manages the McGill University endowment fund, the largest in Canada, which is valued at C$1.278 billion as of March 31. According to data provided by the office, the fund holds shares of Franco-Nevada Corp (TSX: FNV) valued at C$2.897 million, representing its top six equity investment as of June 30. (Source)

5) Montreal, Quebec, Canada, September 30, 2003 – DFT Microsystems (“DFT“), an early-stage company focused on delivering advanced test solutions to the micro-processing world, announced today that it has recently closed on a CDN $6.9 million Series A financing from four venture funds, led by Zon Capital Partners out of Pennsylvania USA. DFT is MSBi Capital’s first portfolio investment and a McGill University spin-off that began operations in October 2002. This investment will allow the company to accelerate sales, marketing and product innovation.

DFT has been established around a number of ground-breaking microchip testing technologies developed at McGill University over the past decade, and particularly around the work carried out by Dr. Gordon Roberts, who is the James McGill Professor of Electrical and Computer Engineering at the University. DFT Microsystems, Inc. develops low cost, specialized automatic test solutions for radio frequency (RF) and mixed-signal systems-on-a-chip (SOC). “DFT” is an industry acronym for “design for test,” a predominant design methodology used in the SOC industry. DFT’s testing solutions leverage patent-pending test and measurement technologies that eliminate many of the limitations associated with conventional testing methods, and work seamlessly with test sets ranging from manufacturing oriented automatic test equipment (ATE) to a workstation. (Source)

About Richard C. Wilson