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University of Dayton Endowment Fund

Name: University of Dayton

Assets Under Management: $396.9 Million (Source: University of Dayton on 6/30/2012)

Annual Report: University of Dayton Financial Report June 30, 2012

Portfolio Insights: “The University is an independent, coeducational institution founded and sponsored by the Society of Mary (the Marianists), a Roman Catholic Institute of Consecrated Life. The University is located in Dayton, Ohio and is one of the nation’s largest Catholic institutions of higher learning. Its students are primarily from Ohio and nine other mid western and eastern states. Students also are recruited on a national basis and from foreign nations. The student population approximates 7,300 undergraduate and 3,000 graduate students. The University awards baccalaureate, masters, and selected doctoral degrees in programs within the College of Arts and Sciences and four professional schools: the School of Business Administration, the School of Education and Allied Professions, the School of Engineering, and the School of Law. Through its Research Institute, the University also directs over $82,000,000 of research contracts, the majority of which are government funded.” (Source)

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Top University of Dayton Endowment Fund Headlines:

1) The University of Dayton has become the wealthiest university to stop investing in fossil fuels, adding fresh impetus to the divestment movement. The Ohio-based university said on Monday that it will begin divesting coal and fossil fuels from its $670m investment pool and is thought to be the first Catholic university in the US to take the step. Although Stanford University, which wields an $18.7bn endowment fund, pledged to divest in May, this only applied to coal rather than all fossil fuels.

University of President Daniel J Curran said the move was “consistent with Catholic social teachings” as well as campus-wide sustainability initiatives, and marked a “significant step” in a long-term process. “We cannot ignore the negative consequences of climate change, which disproportionately impact the world’s most vulnerable people,” he said in a statement. “Our Marianist values of leadership and service to humanity call upon us to act on these principles and serve as a catalyst for civil discussion and positive change that benefits our planet.” (Source)

2) The University of Dayton, a leading Catholic University and the largest private university in Ohio, announced this morning that it would be divesting its $670 million investment pool from fossil fuels.

“Earlier this year, Pope Francis said ‘if we destroy Creation, Creation will destroy us,’” said Bill McKibben, the co-founder of 350.org, an international climate campaign supporting the divestment movement. “It’s very good news to see Catholic institutions starting to put his wisdom into effective practice, and stand up to the powers that are trying to profit at the expense of all who depend on the proper working of this good earth.”

“This action, which is a significant step in a long-term process, is consistent with Catholic social teachings, our Marianist values, and comprehensive campus wide sustainability initiatives and commitments under the American College and University Presidents’ Climate Commitment,” University of Dayton President Daniel J. Curran said. “We cannot ignore the negative consequences of climate change, which disproportionately impact the world’s most vulnerable people. Our Marianist values of leadership and service to humanity call upon us to act on these principles and serve as a catalyst for civil discussion and positive change that benefits our planet.” (Source)

3) The University of Dayton’s divestment is planned to occur in phases. The university will initially eliminate fossil fuel holdings from its domestic equity accounts. The university then will develop plans to eliminate fossil fuel from international holdings, invest in green and sustainable technologies or holdings, and restrict future investments in private equity or hedge funds whose investments support fossil fuel or significant carbon-producing holdings.

Michael Galligan-Stierle, president of the Association of Catholic Colleges and Universities, said, “We applaud the University of Dayton for taking this step as perhaps the first U.S. Catholic university to divest from fossil fuels. This is a complex issue, but Catholic higher education was founded to examine culture and find ways to advance the common good. Here is one way to lead as a good steward of God’s creation.” (Source)

4) June 23, 2014 The University of Dayton, a Catholic, Marianist university, announced today it will begin divesting coal and fossil fuels from its $670 million investment pool. It is believed to be the first Catholic university in the nation to take this step.

The board of trustees unanimously approved the new investment policy, which reflects the University’s commitment to environmental sustainability, human rights and its religious mission.

“This action, which is a significant step in a long-term process, is consistent with Catholic social teachings, our Marianist values, and comprehensive campuswide sustainability initiatives and commitments under the American College and University Presidents’ Climate Commitment,” University of Dayton President Daniel J. Curran said. “We cannot ignore the negative consequences of climate change, which disproportionately impact the world’s most vulnerable people. Our Marianist values of leadership and service to humanity call upon us to act on these principles and serve as a catalyst for civil discussion and positive change that benefits our planet.” (Source)

5) The University of Dayton is taking a hiatus from its RISE symposium to reevaluate it in light of the University’s vision of learning and scholarship. Markets and technologies have changed dramatically over the past 14 years, and the University is using this time to thoughtfully evaluate how a program like RISE can best meet the educational needs of students to connect theory with practice. Many of you have participated in RISE for most of its 14-year history; others are more recent or sporadic participants. Regardless, we have appreciated your patronage and wish you all the best as you strive to raise the standards in the investment industry through education. (Source)

About Richard C. Wilson