Investment Performance
During the fiscal year ending June 30, 2011, the Long-Term Investment Fund had a total return of 14.6%, net of investment management fees and spending.
| Long Term Investment Performance 2001 – 2010 | |
|---|---|
| 2001 | -6.8% |
| 2002 | -7.0% |
| 2003 | 1.3% |
| 2004 | 23.8% |
| 2005 | 12.1% |
| 2006 | 14.3% |
| 2007 | 21.1% |
| 2008 | -6.6% |
| 2009 | -25.5% |
| 2010 | 17.2% |
| 2011 | 14.6% |
Asset Allocation
The Long-Term Investment Fund is well diversified across major asset classes, as well as within each asset class by market capitalization and investment style or strategy. The Investment and Endowment Committee establishes asset allocation targets to achieve the goal of maximizing long-term total return within acceptable levels of risk. Total return includes income, interest and dividends, and appreciation of the underlying assets.
The Investment and Endowment Committee reviews the fund’s asset allocation each quarter, and balances the portfolios at least annually to maintain the allocation to each asset class within acceptable tolerance ranges.
Spending Policy
The Investment and Endowment Committee establishes the annual distribution rate per unit, presently calculated as 3.84% of the average market value during the previous three fiscal years. For fiscal year 2012, the committee approved a distribution rate of $14.59 per unit.
Investment Manager Selection
Syracuse University utilizes professional investment firms to manage the Long-Term Investment Fund.
The Investment and Endowment Committee is responsible for selecting and terminating investment managers, and uses two investment consultants to assist with manager selection and monitoring. SU continually seeks outstanding investment managers who will enhance the Long-Term Investment Fund’s risk-adjusted return over long-term market cycles.
The University’s publicly traded investments are presently managed by 14 firms; the alternative investments are managed by 57 investment managers. Due to the competitive nature of manager searches, the University does not disclose information about its investment managers.
Investment and Endowment Committee 2011-12
Members
Michael Thonis, Chair
Michael A. Dritz, Co-Chair
Steven W. Barnes
Darlene T. DeRemer
Alan Gerry
Richard L. Haydon
Joshua H. Heintz
Jonathan J. Holtz
Sharon H. Jacquet
Samuel Zamarripa
Ex Officio Members
Nancy Cantor
Richard L. Thompson
Ex Officio Participants (non-voting)
Louis G. Marcoccia, Executive Vice President and Chief Financial Officer
Barbara L. Wells, Treasurer
Emeritus Participants (non-voting)
Steven W. Ballentine
William J. Brodsky
Gerald B. Cramer
Edward S. Green
John L. Kreischer III
Marvin K. Lender
Robert B. Menschel
Susan C. Penny
About the Treasurer’s Office
The Syracuse University Treasurer’s Office is responsible for managing the endowment under the oversight of the Board of Trustees’ Investment and Endowment Committee, and reports directly to the executive vice president and chief financial officer.
The treasurer and her staff implement investment policies—including asset allocation, spending, and investment manager selection—established by the Investment and Endowment Committee. These policies are designed to preserve the value of the endowment while providing a stable, permanent level of support for scholarships, faculty development, academic programs, innovative research, the library, athletics, and other University initiatives.
Treasurer’s Office Staff
Barbara L. Wells, Treasurer
Stephanie Surlock, Administrative Specialist
Scott Kemp, Assistant Treasurer
Diane DiPino, Manager, Credit Card Program
Jenny Garvey, Director, Accounting and Compliance
Marjorie Greeson, Financial/Investment Analyst
Suzanne Herr, Director, Fund Administration
Peter Penizotto, Senior Accountant
Eric Posenauer, Opscan Operator
Joy Dorfer, Manager
Martha Koehler, Supervisor
Kathy Bineau, Cash Operations Representative
Lorrie Breckheimer, Cash Operations Representative
Tina Goddard, Cash Operations Representative
Tina Kelly, Cash Operations Representative
