Overview
TCU Investment Management is responsible for managing Texas Christian University’s endowment, which consists of the long-term investment assets of the university. The endowment’s assets under management totaled $1.6 billion as of December 31, 2017, ranking 66th in the nation in terms of asset value.
THE PAYOUT
For fiscal year 2018, the annual payout provided 11% of the university’s operating budget. Such funding fuels people, programs and progress. The endowment supports financial aid and scholarships for students, endowed chairs and professorships for faculty, as well as academic programs across campus.
“If the college was to continue beyond the lives of the present workers it must have an endowment.”
RANDOLPH CLARK – Reminiscences, 1919
The Clark brothers, Addison and Randolph, founded TCU in 1873. The endowment was established in 1910 from an initial campaign generating $55,000.
PERFORMANCE
The overall portfolio performance of 13.4% for 2017 achieved the investment objective of exceeding the sum of the annual payout plus inflation while producing returns accretive to the overall portfolio.
GOVERNANCE
With oversight provided by the investment committee of the Board of Trustees, TCU’s chief investment officer and staff of investment professionals focus on preserving the endowment to last in perpetuity.