Endowment Funds - Investment Benchmarks
To evaluate the success of the investment program the university compares its investment performance to that of various benchmark indices.
The university established a hybrid benchmark against which to evaluate its investment performance. The hybrid benchmark presently consists of the indices shown in the table below.
| Sector | Index | Percentage |
|---|---|---|
| Global equity | MSCI All Country World Investable Market Index (ACWI IMI) |
50.5% |
| Alternative investments: Hedge funds | 3-month T-bills plus 5% | 5.0% |
| Alternative investments: Private equity | Russell 3000 plus 3% | 5.0% |
| Alternative investments: Real estate | NCREIF | 7.5% |
| Global fixed income | Barclays Global Aggregate |
14.0% |
| TIPS (Treasury Inflation-Protected Securities) | Barclays US TIPS |
7.0% |
| High yield bonds / Bank loans | Bank of America Merrill Lynch HY Master II Constrained | 6.0% |
| Emerging markets debt | JP Morgan EM Bond Index-Global Diversified | 5.0% |
Reviewed 2012-12-20.