Endowment Fund

The UBC Endowment is the result of over ninety years of philanthropy wherein donors have provided resources to support specific aspects of the University of British Columbia's activities in perpetuity. Generous contributions from alumni, students and benefactors have been prudently invested over the years, generating much-needed annual revenue for the University and produces the highest standards of research, teaching and student aid. Income from an endowment provides stability in difficult economic times and periods of rapid growth. Please visit the UBC Development Office website for more information.

IMANT sets long term targets for investment performance that consider the need to produce regular income against which to grow the Endowment's capital. Investment results, prepared by independent third party consultants, are reviewed against benchmarks by IMANT's Board of Directors.

What are the Endowment Fund's Return Objectives?

The Funds current target return objective is 6.65% comprised of an annual spending rate of 4.0% of the rolling 36 month average market value, inflation of 2.0% and fund expenses totaling 0.65%. The long-term return target was established to produce a steady income stream for the Endowment programs and to preserve the real purchasing power of the Fund. Investment results, prepared by independent third party consultants, are reviewed against benchmarks by IMANTs Board of Directors.

How is the Endowment Invested?

The Fund is invested in a variety of asset classes, managed by external, top-tier investment managers (PDF). In addition to the endowment assets managed by IMANT, the University also has investments at three associated foundations.

Asset Classes Actual Mix
(Mar. 2017)
Long Term Policy Mix New Long Term Policy Mix (Apr. 2017)
Fixed Income      
Cash 1.0% 2.0% 2.0%
Private Debt & Mortgages 5.6% 5.0% 5.0%
UBC Debenture 7.2% 13.0% 7.0%
Bonds 6.6% 6.0%
  20.4% 20.0% 20.0%
Public Equities  
Canadian Equities 17.6% 15.0% 10.0%
Global Equities 17.8% 15.0% 15.0%
Global Small Cap Equities 0.0% 0.0% 5.0%
Emerging Equities 9.6% 10.0% 10.0%
  45.0% 40.0% 40.0%
Alternatives  
Private Equity 5.4% 10.0% 10.0%
Real Estate 9.4% 10.0% 10.0%
Infrastructure Equity 12.5% 10.0% 12.5%
Absolute Return Strategies 7.4% 10.0% 7.5%
  34.7% 40.0% 40.0%
  100.0% 100.0% 100.0%

Investment Returns (net, annualized) to Mar. 31, 2017

  1 Year 4 Year 10 Year
Endowment Fund (IMANT Managed Pool) 12.1% 10.1% 5.1%