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Texas State University Endowment Fund

Name: University of Texas Investment Management Co.

Assets Under Management: $431.8 Million (Source: Texas State University on 8/31/2013)

Annual Report: Texas State University Annual Financial Report for The Fiscal Year Ended August 31, 2013

Portfolio Insights: “The Texas State University-San Marcos Research Foundation (Research Foundation) was formed as an independent 501(c)(3) organization on July, 22, 2010. The Research Foundation was formed to support the university’s mission and objectives of promoting higher education, conducting research, providing public service, and assisting in economic development in Texas.

Texas State is authorized to invest in obligations and instruments as defined in the Public Funds Investment Act (Texas Government Code Sec. 2256.001) and for the Endowment Fund as defined in the Uniform Prudent Management of Institutional Funds Act (Property Code Chapter 163.001). Such investments include: (1) obligations of the United States or its agencies (2) direct obligations of the State of Texas or its agencies, (3) obligations of political subdivisions rated not less than “A” by a national investment rating firm, (4) certificates of deposit and (5) other instruments and obligations authorized by statute.” (Source)

Our team, the Endowment Fund Association (EFA) and is the #1 community and most visited website dedicated to endowment fund professionals.  We provide endowment funds with buy-side co-investment and direct investment deal origination services, outsourced chief investment officer selection help,  and also provide Endowment 500 research and Endowment Database Solutions.

Top Texas State University Endowment Fund Headlines:

1) The mission of the General Accounting Office is to provide financial information and reporting to support the University community including academic, research, auxiliary, student services and public outreach organizations.  We strive to promote fiscal responsibility, accountability and regulatory compliance with laws and regulations by providing timely, accurate and meaningful financial information and advice to support management decision making and to promote the efficient and effective use of financial resources and stewardship of University assets.  We strive to provide outstanding customer service and a challenging and rewarding work environment for all employees. (Source)

2) University of Texas Investment Management Co. handed out $7.2 million in bonuses to 29 managers after investments topped benchmarks for three straight years, according to CEO Bruce Zimmerman.

The biggest award, almost $1.88 million, went to Mr. Zimmerman, and half of that will be spread over three years, according to Mr. Zimmerman. President Cathy Iberg got about $1.08 million, he said, while the smallest payout was $25,000. The fund paid $5.1 million in 2010 bonuses.

Board members of UTIMCO, which oversees $25.4 billion in assets for the University of Texas System, Austin, awarded the payments Wednesday at a meeting in Austin. The fund earned 20% on its investments in the 12 months through August, ranking in the middle of about 20 large university endowments, and the fund has gained 7% a year in the past decade, Mr. Zimmerman said. (Source)

3) In 2006, the Alumni Association of Texas State University honored Mrs. West with the Professor of the Year award for her body of work in both professional selling and free enterprise. Most recently in 2010, Mrs. West was nominated for Sales Professor of the Year at the national level by the American Marketing Association – Sales Interest Group division. (Source)

4) Texas State University has received a pledge of $7.1 million that will be used toward the construction on a new engineering building at its San Marcos campus.

The funding pledge from Bruce and Gloria Ingram and Ingram Readymix Inc. in New Braunfels is contingent on the university receiving funding from the Texas Legislature for the construction work. The university has requested $107 million from the Legislature to fund construction of the proposed 122,000-square-foot building that would house the materials science, engineering and commercialization program; civil and environmental engineering; and other programs within the school’s Ingram School of Engineering.

Bruce and Gloria Ingram have pledged $5 million towards the project, while Ingram Readymix has pledged an in-kind contribution of 20,000 cubic yards of concrete worth $2.1 million to be used toward the construction. (Source)

5) Texas State University’s College of Science and Engineering has acquired state-of-the-art equipment valued at approximately $1 million that is used in the production of advanced electronic components such as wireless transmitters/receivers and LEDs.

The MOCVD epitaxial reactor, uniquely designed for gallium nitride deposition, a semiconductor with a broad range of high-impact properties, was donated by Nitronex, LLC, a subsidiary of M/A-COM Technology Solutions Inc. (“MACOM”).  Headquartered in Lowell, Mass., MACOM is a leading supplier of high performance analog RF, microwave, and millimeter wave products that enable next-generation Internet and modern battlefield applications. In addition to the reactor, the gift includes support equipment, hardware and additional parts.

The equipment is capable of producing high-tech materials by depositing extremely thin layers, essentially atom-by-atom, on semiconductor wafers. The material is then used in the manufacture of devices such as amplifiers for wireless communication, light-emitting diodes (LEDs), lasers, transistors, solar cells and other electronic devices. (Source)

About Richard C. Wilson