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Xavier University Endowment Fund

Name: Xavier University’s Treasury Department

Assets Under Management: $560.1 Million (Source: Xavier University on 9/19/2013)

Annual Report: Xavier University Financial Statements as of and for the Years Ended June 30, 2013 and 2012, and Independent Auditors’ Report

Portfolio Insights: “Xavier University (the “University”) is a not-for-profit Jesuit educational institution located on a 190-acre campus in Cincinnati, Ohio. The University was founded in 1831 and today is a coeducational institution with more than 7,000 students in undergraduate and graduate programs.

Investments in equity securities with readily determinable fair values and all investments in debt securities are recorded at fair value. Other investments including real estate are recorded at cost or, if acquired by gift, at fair value at the date of gift. Fair values for certain private equity and real estate investments held through limited partnerships, hedge funds or commingled fund shares are estimated by the respective external investment managers if market values are not readily ascertainable and are considered by the University as non-marketable alternative investments.” (Source)

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Top Xavier University Endowment Fund Headlines:

1) Established in 1831, Xavier University is a private coeducational university located in Cincinnati, Ohio. Xavier University specialises in an arts education, delivering it in the Catholic, Jesuit tradition. The university is the 3rd biggest independent institution in Ohio. It is also the 6th oldest Catholic university in the US and one of 28 Jesuit colleges and universities nationwide. The university’s endowment plan has USD 120 million in assets under management and invests in several areas including an alternatives portfolio that incorporates real estate, private equity and hedge funds. (Source)

2) The Treasury Department supports the Senior Vice President & Chief Financial Officer of Financial Administration in the areas of all internal and external financing for Xavier University and its departments.  Our office manages the cash, investments, and debt obligations of the university, and performs accounting and financial reporting for these areas. (Source)

3) The University of Cincinnati and Xavier University enjoyed banner years in expanding their endowments last fiscal year, adding millions of dollars to their coffers.

A newly released annual study of university endowments nationwide, sponsored by the National Association of College and University Business Officers and Commonfund Institute, shows that Xavier’s endowment enjoyed the biggest percentage increase for the year ended June 30 of any large local school. Its endowment swelled 12.9 percent to more than $132 million.

UC’s endowment increased by $69 million, giving it the largest dollar increase of the four largest local universities. It hurdled the $1 billion mark, reaching $1.046 billion.

Northern Kentucky University, which has had the biggest local endowment increase for each of the last few years, enjoyed the second-biggest local gain last year. Its endowment grew 11.4 percent to $82 million. A big Haile/U.S. Bank Foundation gift ended last year, hampering NKU’s growth. (Source)

4) The Department of Finance is home to two student-managed investment funds with a combined market value of over $2.5 million. The Xavier Student Bond Investment Fund is a $1 million fixed income portfolio managed by MBA students and the D’Artagnan Capital Fund is an equity portfolio managed by undergraduate finance majors.

Student investing began at Xavier in 2004, when the Xavier University Board of Trustees transferred responsibility to manage one million dollars of the University’s endowment to eight XU Finance Majors under the direction of Professor Staff Johnson in the Williams College of Business. In November 2004, the Xavier Student Investment Fund (XSIF) was established as a $1 million portfolio of high-grade bonds, managed by undergraduate students using a bond-indexing approach. (Source)

5) Tim Steen is a Senior Finance major and economics minor from Cleveland, Ohio. He has past internship experience as a finance intern at Brandmuscle, Inc. Currently, he is an intern in the Fifth Third Trading Center and Vice President of the Financial Management Association (FMA). In his spare time he enjoys spending time with his friensds and working out. (Source)

About Richard C. Wilson