This volunteer committee meets twice a year to help us assess the overall investment landscape.
In fact, 98% of U-M investments are managed elsewhere. Only a small fraction of the endowment is invested with firms associated with members of our Investment Advisory Committee. This success requires that we achieve the highest returns through the best investments. Without donor and endowment support, annual tuition in Ann Arbor would be nearly $6,000 higher per student. The $4 billion in endowment distributions to the university’s budget that have been generated over the last 20 years that support student scholarships and university programs is evidence of our success and the endowment’s importance. We have said all along that our endowment’s purpose is to provide sustained resources to support our students and academic programs. Unfortunately, the claims made in these stories and editorial are not supported by this material. U-M additionally responded to several follow-up rounds of questions asked by reporters. Our chief investment officer, two vice presidents, and I gave extensive interviews. U-M provided Free Press reporters with 15 years of annual investment reports, copies of gift agreements and links to hundreds of other documents posted publicly on our website. It also says, “It’s fair … to expect the schools to provide answers.” U-M did.
The Free Press’ Feb 4 editorial (“Can MSU, U-M overcome burden of old boys’ network?”) and the endowment stories it references invent conclusions and peddle innuendo not supported by facts. Conflating the University of Michigan’s management of its successful, transparent and essential endowment with the horrific criminal activity of a sexual predator is irresponsible, incomprehensible and false.
0 kommentar(er)
