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University of Michigan Endowment Fund

Name: University of Michigan B&F

Assets Under Management:  $7.6 Billion (Source: University of Michigan)

UofMichigan Pie

Portfolio Allocation Insights:

“The endowment is a collection of approximately 7,800 individual endowments managed like a large mutual fund. Its investment proceeds pay for scholarships, professorships, health system endeavors and endowed university programs, such as the school’s philosophy library. U-M uses less than 5 percent of the endowment each year. In fiscal 2013, it used $276 million of the endowment’s funds.” (Source)

 Management Team:

Team Member Title
Elizabeth S. Hokada Director of Investments
Erik Lundberg Chief Investment Officer
Joan M. Thowsen Investment Portfolio Manager

Contact Details:  For complete contact details for the University of Michigan Endowment Fund investment staff please access your copy of our Endowment Database.

Background on the University of Michigan Endowment Fund:

 

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Top University of Michigan Endowment Fund Headlines:

1) University of Michigan’s endowment grew to $8.4 billion as of June 30, the end of the 2013 fiscal year. That’s a 9 percent increase over last year, when the endowment totaled $7.7 billion. “This is the highest-ever” endowment, said U-M regent Andrew Richner during a Friday meeting held at U-M’s Flint campus. The U-M endowment is ranked as the second-largest endowment in the nation among public universities and the seventh-largest among all U.S. universities. The endowment is a collection of approximately 7,800 individual endowments managed like a large mutual fund. Its investment proceeds pay for scholarships, professorships, health system endeavors and endowed university programs, such as the school’s philosophy library. U-M uses less than 5 percent of the endowment each year. In fiscal 2013, it used $276 million of the endowment’s funds. The university’s endowment had an investment return of 10.75 percent, a turnaround from the 0.5 percent decline in the previous fiscal year. “Strong performance over a long period of time is consistent with the aim of the university’s long-term, diversified investment strategy for the endowment,” L. Erik Lundberg, the university’s chief investment officer, said in a release. “The goal is to generate a level of return sufficient to provide dependable support for operations, while protecting and growing the endowment corpus.” (Source)

 

2) THE MOST IMPORTANT OFFICE in the entire University of Michigan system isn’t even on University property. About a mile from the Ann Arbor campus, it’s at the corner of Huron Street and Main Street, where a towering, angular office building looms large over the city’s business district. In a fifth floor suite of that building, a team of finance specialists in the University Investment Office are hard at work managing the school’s vast investment portfolio. The largest of these is the University’s multi-billion-dollar endowment — a portfolio of over 6,000 different investments in stocks, bonds, venture capital, real estate and energy, among others — and the school’s financial backbone. At the entrance to the Investment Office is a glass door that bears the University seal, a reminder of nearly 200 years of history. And it’s the job of the investors on the other side of that door to lay the financial groundwork for another couple centuries of maize and blue.  (Source)

About Richard C. Wilson