The University of Michigan's Office of Investments was established in 1999 to oversee the investments of the University's financial assets, including the University's $8.4 billion endowment. This diversified, multi-asset class portfolio supports the University's student scholarships, academic and research programs, professorships, and libraries, to name a few of the many endowed fund initiatives.
The primary objective of the office is to optimize the endowment performance and the University's other investment programs, such as its working capital pool and gift programs. This includes developing investment policies, the strategic asset allocation, policy and performance benchmarks, and risk management practices. This ensures that the real purchasing power of the fund's principal is preserved and maintained enabling the University to continue to provide strong academic programs and innovative technology.
The University's endowment ranks 7th among institutions of higher learning based on asset size and 2nd among public universities based on the NACUBO 2012 National Endowment Study.
The Investment Office is charged with overseeing the investments of all of the University's financial assets. The chart below shows the composition of the University's $10.0 billion in financial assets on June 30, 2013.
(a) 'Other' includes life income trusts, assets that cannot be commingled in the University's investment pools, uninvested cash balances and other reserves.
University of Michigan Investment Policy
South Africa stock divestment
- Senate Assembly Advisory Committee Report on Investment Policies and Social Responsibility (February 28, 1978) [PDF]
- Regent's proceedings regarding South Africa divestment (March 16, 1978)[PDF]
Tobacco-related stock divestment
- Report and Recommendations by Ad Hoc Advisory Committee on Tobacco Investments (March 17, 2000)
- President Bollinger letter to Regents regarding tobacco divestment (June 6, 2000) [PDF]
- Regents approve divestment of tobacco-related stock (June 19, 2000)