Investments Office

The Investments Office is responsible for investing and overseeing more than $4.6 billion in endowment, retirement, operating and other investments. Managed by the University’s Chief Investment Officer, the Investments Office will seek to maximize long-term total returns consistent with a reasonable protection of principal and in accordance with the Board of Trustees investment policies and objectives. The Investments Office’s primary responsibilities are the management of the asset allocation of the University’s investment portfolio, the due diligence and oversight of external investment managers, the management of internal investment portfolios and providing the Treasurer, President, and Board of Trustee committees with the information they require to responsibly oversee investment activities.

The University uses a multiple-manager, specialist structure in order to achieve the asset allocation targets developed by the Investment Visiting Committee. The University believes that such a structure provides a well-diversified investment strategy capable of achieving the long-term objectives of the Endowment Fund with an acceptable level of risk. External investment advisors will be retained to assist with the management of various portfolio segments. The University may retain more than one manager within each asset class or style category based on the size of the portfolio and the nature of that particular market segment. In addition, the Investments Office works with external consultants to enhance the due diligence process on external investment partners in the alternative investments space. All staff in the Investments Office are generalists with a singular focus on the overall performance of the University’s investment portfolios. Inquiries should be sent to investments@udel.edu.

The Endowment Mission

The Endowment provides perpetual funding to support the University’s educational goals while preserving real value for future generations. To that end, the University’s Board of Trustees, Investment Visiting Committee, and Administration have a shared mission to maximize the Endowment’s total return consistent with the University’s prudent investment risk constraints. This mission requires an expected long-term return that exceeds the inflation-adjusted annual spending rate. In order to pursue that goal, the University maintains an equity-biased portfolio and seeks to partner with best-in-class management firms across diverse asset categories while also managing some endowment assets in-house. The Investments Office manages the endowment under the guidance of and within the policies authorized by the Investment Visiting Committee of the University.

The target spending rate for the Endowment is 4% to 5% of the three-year average market value as determined annually by the University’s Board of Trustees. In recent years, the Endowment’s role in supporting the University has become more meaningful as funding from the State of Delaware has declined. This support is likely to become even more important in the coming years given the challenges facing higher education today.