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The University of the Sciences in Philadelphia has established
a balanced investment policy for its endowment and similar
funds. The objective is to produce a maximum total return
without exposure to undue risk. Over time, the endowment is
expected to earn a return equivalent to, or greater than,
inflation, plus its annual spending. This will allow the endowment
to maintain, or increase, its purchasing power in the future
and to continue to provide a consistent level of budgetary
support from these funds.
The Finance and Audit Committee of the Board of Trustees
oversees the university’s endowment, with the help of
an Investment Committee and an independent consultant and,
on an operational level, by the Vice President of Finance,
who is also a member of the Investment and Finance and Audit
Committees. Risk controls have been placed on both the asset
allocation with the portfolio and on the specific investments
that are allowed. These committees meet quarterly to monitor
overall fund structure, adherence to policy, and performance
for the endowment and other investments.
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