Portfolio

Managing endowments entails balancing the competing needs of providing for current payout and long term preservation of principal. To address these goals, the portfolio is constructed to reflect the global nature of investment opportunities and to seek diversification by strategy, asset type, and geography.

Managers

The portfolio is primarily invested by engaging third party investment managers who bring specialized expertise in a diverse set of strategies. This approach enables Berkeley to benefit from a talented cadre of managers in a way that would not be possible to replicate with in-house teams. Selecting those managers involves both qualitative and quantitative factors, many of which are summarized here.

Results

Endowment investing is most notable for its perpetual time horizon and the portfolio is invested with that in mind. As such, long term results are more important than those from any single year.

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Reporting

Here are the endowment letters for 2012, 2013, 20142015 and 2016.

Exposures and investment results are published annually by the UC Regents and that report is available here.