UTIMCO lists quarterly investments, redemptions
By Christine Williamson | October 30, 2012 4:17 pm
University of Texas Investment Management Co., Austin, invested or committed a total of $5.1 billion of endowment assets to new and existing external money managers and redeemed a total of $2.5 billion in the quarter ended Aug. 31, according to an investment transaction report available on its website.
The largest asset class change in investments/commitments and redemptions was made in developed countries equity, with $1.7 billion and $1.2 billon, respectively. Natural resources received a big boost in investment/commitment of $1.1 billion in the three months ended Aug. 31, with just $123 million of redemptions.
UTIMCO continued to increase investments in a number of investment funds.
Investment-grade fixed-income manager Colchester Global Investors was awarded another $400 million in the quarter ended Aug. 31, adding to the $400 million awarded during the quarter ended May 31.
Funds that received $100 million investments/commitments for the second fiscal quarter in a row included OZ Credit Opportunity Fund; Wheelock Street Real Estate Fund; and private equity fund Post Oak Energy Partners. UTIMCO also committed $100 million in both quarters to Bain Capital's fixed-income absolute-return strategy.
UTIMCO manages the endowment and operating funds of the University of Texas System, Austin, and Texas A&M University System, College Station. As of Aug. 31, the UT/A&M systems' fiscal year-end, the endowment funds totaled $20.7 billion and operating funds totaled $7.1 billion.
Separately, as of the fiscal year-end Aug. 31, returns of UTIMCO's largest endowment pool, the $13.5 billion Permanent University Fund, were 3.7% for the quarter; 3.2% for the fiscal year; 10.2% for three years; 2.4% for five years; and 8.2% for 10 years, according to an online investment report. Multiyear returns are annualized.
As of the same date, returns of the $6.1 billion General Endowment Fund were 3.7% for the current quarter; 3.11% for the fiscal year; 10.1% for three years; 2.3% for five years; and 8.3% for 10 years. Multiyear returns are annualized.