14 THANK YOU FOR YOUR SUPPORT OF THE UNIVERSITY. The University of Rochester’s endowment funds, now numbering more than 2,900 with a value of more than $2.8 billion, perpetuate a key source of revenue for the University. Over $135 million is expended each year from these endowment funds for faculty support, student scholarships, and programs. The Investment Committee and the University’s Board of Trustees take a long-range view of the endowment to ensure support of both current and future generations of our faculty and students. The endowment’s well-diversified investment portfolio and prudent spending policy serve to balance the present with the future. Endowment funds are pooled together for investment purposes and are managed by many of the world’s most well-regarded investment firms. Investment performance of these firms, combined with giving by generous donors, helps to ensure the continued financial viability of the University. On behalf of our students and faculty, we thank you for your support. FINANCIAL UPDATE NAVEEN NATARAJ ’97 DOUGLAS W. PHILLIPS Chair, Board of Trustees Investment Committee Senior Vice President and Chief Investment Officer
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