Name: Rice Management Company
Assets Under Management: $4.84 Billion (Source: Rice University on 06/30/ 2013)
Annual Report: Rice University Endowment Fund’s 2014 Annual Report
Portfolio Insights: “Rice University’s Baker Institute for Public Policy is a nonprofit, nonpartisan think tank in Houston, Texas. The institute produces independent research on domestic and foreign policy issues with a focus on providing decision-makers in the public and private sectors with relevant and timely policy assessments and recommendations.
By bringing statesmen, scholars and students together, the institute broadens
the content and reach of its policy assessments and recommendations, and provides an open forum for debate and discussion.
The institute educates students on public policy issues and related subjects by offering courses at Rice University and sponsoring student intern and mentoring programs at home and abroad.” (Source)
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Top Rice University Endowment Fund Headlines:
1) The Rice Management Co. was established in 2009 to focus on Rice’s endowment and investments.
“Allison is a savvy, intelligent investor, as her track record with RS Investments for the past 11 years shows,” said Jim Crownover, chair of the Rice Board of Trustees. “I have enjoyed getting to know her during the search process and I have the utmost confidence that Rice’s endowment will be in good hands as the university enters its second century.”
As managing director of the RS Growth Group for RS Investments, Thacker led a 10-member team responsible for five mutual funds and two institutional strategies that managed nearly $2 billion in assets. These investments were credited with consistently outperforming their peer funds and relevant indexes. In addition, Thacker co-managed the RS Technology Fund, which has outperformed 88 percent of the funds in its category over the past five years with a 7.8 percent return rate. The S&P 500, the index used for monitoring the growth of 500 large-capital common stocks in the U.S., had a return rate of only 0.6 percent during that same period. (Source)
2) Director of Rice’s Administrative Center for Sustainability and Energy Management Richard Johnson said the Rice Management Company’s investments, including those in 50,000 acres of timberland in Southwest Louisiana, help Rice be a more sustainable campus.
“The endowment features approximately $100 million in sustainability-oriented investments, including exemplary land management practices and habitat protection at the Rice Land Lumber Company (which is owned by the endowment),” Johnson said. “Through the Rice Management Company, the university has also enjoyed enthusiastic partnerships with faculty and student environmental research on endowment-owned lands and meaningful participation in Rice’s greenhouse-gas reduction efforts. (Source)
3) The Rice Endowment ranks in the top 20 endowments of private research universities (by market value) in the US. The endowment is critical to the university’s ability to achieve its goals. The annual distribution from the endowment funds nearly half of the university’s annual operating budget. The Rice Management Company (RMC) was established October 1, 2009, as a division of Rice University. The goal of the RMC is to provide a stable source of funding for current university operations and to preserve and grow the purchasing power of the endowment to benefit future generations of students. The RMC is responsible for all endowment matters of the university including asset allocation, the selection and termination of investment managers and monitoring performance of the portfolio, and reporting to the Rice Management Company Board of Directors. The endowment primarily utilizes outside investment managers and invests globally across all asset classes. (Source)
4) With the creation of the Rice Management Company at the, the endowment received a new organization to oversee its investments. The new organization will be headed by President of the Rice Management Company Scott Wise, formerly the vice president for investments, and a 10-member board of directors. Of the 10 members, seven currently serve on the Rice Board of Trustees and comprise part of a finance committee within the board, while the other three were recruited from outside the university, based on their background in financing, Wise said.
“This new system allows us to bring in really top-notch outside members, which was hard to do under the old system,” Chairman of the Board of Trustees Jim Crownover said. “We are able to bring some real talent on board and to the Rice Management Company, who bring dedication to Rice as well as investment expertise.” (Source)
5) Allison Thacker is President, Rice Management Company and Chief Investment Officer at Rice University. Previously, she was Managing Director of the RS Growth Group at RS Investments in San Francisco, where she managed a 10 person team responsible for 5 mutual funds and 2 institutional strategies with $1.9 billion under management. Allison has extensive experience in following the technology sector, especially the software and internet industries. (Source)