Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Endowment Management topic
No spam. Unsubscribe anytime.
Trustees receive positive endowment performance report; Phillips Fund income projection and transfer decision reported
Summary
The trustees heard that both the University Foundation and the Phillips Fund portfolios performed positively over the quarter, with the outsourced CIO SCI cited for active management. The board was told the Phillips Fund will not receive a usual $10,000 transfer to scholarships this year; projected income as of June 30, 2025 is $93,258.
Trustees received a report on endowment performance and the status of the Phillips Fund during the finance and administration committee report.
The university reported positive performance across both endowment portfolios for the quarter. The board materials attribute recent outperformance relative to benchmarks to selective active management and diversification by the outsourced chief investment officer, SCI, and a long-term asset-allocation approach.
A status update on the Phillips Fund (projection through June 30, 2025) noted no change from the prior report: the trustees were told the customary $10,000 transfer from a lecture series to the scholarship series will not be made this year. The report lists the Phillips Fund projectable income as $93,258 as of June 30, 2025.
In the endowment summary, as of Nov. 30, 2024 the University Foundation endowment was reported as $36.1 million and the Phillips Fund endowment as $3,300,000. The finance report stated the investment strategy remains long-term, with selective active management and strategic diversification used to pursue returns.
The trustees did not take a separate vote on investment strategy during the meeting; the information was provided as a status report and for review.
