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Miami University Foundation Endowment Fund

Name: Miami University Foundation

Assets Under Management: $387.2 Million (Source: Miami University Foundation on 6/30/2012)

Annual Report: Investment report – Miami University and Miami University Foundation June 30, 2012

Portfolio Insights: “Miami’s investment portfolios produced mixed results for the fiscal year ended June 30, 2012. The combined endowment and foundation managed pools produced a loss of 3.27 percent, a notable decline from the previous year’s average increase of 19.6 percent. Meanwhile, the operating pool earned 1.86 percent after earning 2.79 percent in the previous year.

As of July 1, 2011, Miami University and the Miami University Foundation entered into a pooled investment agreement. Under this arrangement, the Foundation investment committee provides governance oversight to one unified endowment investment pool. This combination allows the staff to realize operating efficiencies, assists in managing cash flow, and maximizes the resources of our talented and dedicated board members.” (Source)

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Top Miami University Foundation Endowment Fund Headlines:

1) Monitors and evaluates the investments of the Miami University Foundation endowment, the Miami University endowment, and the University non-endowment funds. – Works with the Chief Investment Officer and external investment consultant in performing portfolio analysis, monitoring investment managers, and preparing reports. – Prepares materials for internal management and the Foundation investment committee Job Duties: 1. Works with the Chief Investment Officer and external investment consultant to monitor and report on the investment managers employed by the University and Foundation. Achieves an understanding of each manager’s investment philosophy and business model, and applies this understanding to monitor investment activity. Reviews periodic communications from managers, coordinates and conducts conference calls and meetings, and may participate in site visits. Coordinates each manager’s compliance with Miami’s ethics policy. (Source)

2) Miami University and Miami University Foundation’s investment portfolios performed very well for the fiscal year ended June 30, 2006, with average returns of more than 13 percent for the endowment and foundation pools, and exceeding 8 percent for the more conservatively managed non-endowment pool. These strong returns improved upon a solid 2005, in which the portfolios earned 10 percent and 5 percent returns, respectively. “This was a landmark year for Miami in which the total of the investment pools broke the $500 million threshold,” said Beverly Thomas, associate vice president for finance and associate treasurer. This asset growth was made possible by a 15 percent jump in the two endowment pools, which climbed to a combined total of $315 million. Together the endowment and foundation pools distributed $13.6 million in operating support for the university’s 2006 fiscal year. (Source)

3) Endowments provide a lasting legacy for Miami because their principal is invested in perpetuity, and an annual distribution is made to support a variety of activities of the university. The spending policies of the university and foundation are intended to achieve a balance between the need to preserve the purchasing power of the endowment principal in perpetuity and the need to maximize current distribution of endowment earnings. Fulfilling these dual objectives is often referred to as achieving “intergenerational equity,” in which no generat ion of col lege st udent s is adva nt a ged or disadvantaged in relation to other generations. (Source)

4) The Miami University Foundation invested the $5 million it received of the $10 million pledge to establish the John T. Petters Center for Leadership, Ethics and Skills Development within the university’s Farmer School of Business, according to Miami spokeswoman Claire Wagner. The foundation only received one payment of $200,000 toward the $4 million pledge to establish the Jennifer Petters chair, she said. Petters apologized to family, friends, co-workers and others who were hurt but did not concede guilt. “Every day, I’m filled with pain and anguish for all the lives that have been destroyed and touched by this episode,” he said. (Source)

5) Bruce Guiot is chief investment officer for Miami University and the Miami University Foundation. Guiot previously worked for 16 years with high-net worth families in various management capacities with Fifth Third Bank and PNC Bank. He came to Miami in 2006 to fulfill his current roles with the university. (Source)

About Richard C. Wilson