05-25-2021, 03:48 PM
(05-25-2021 03:44 PM)ExcitedOwl18 Wrote: [ -> ](05-25-2021 03:36 PM)Middle Ages Wrote: [ -> ](05-24-2021 06:41 PM)ExcitedOwl18 Wrote: [ -> ](05-24-2021 06:31 PM)bigowlsfan Wrote: [ -> ]I wonder who runs Rice's money? At $6 billion (lower than what we have now), achieving a percentage point better a year than the returns we have gotten would yield an extra $60 million. As I understand it, those are tax free dollars. $60 million will buy you a lot of coaching talent (or if you are so inclined, engineering talent or architecture talent or nano-technology talent or brie for the president's cocktail hour).
The Rice Management company. Our endowment performs better than higher education endowments broadly, and on par with the top schools. They have a bunch of benchmarking done on their website.
Endowment Returns (just selected some peers easily seached online. I'm sure there are others that Rice outperforms)
Yale: 1 year: 6.8%, 10 years: 10.9%, 20 years: 9.9%
Brown: 1 year: 12.1%, 10 years: 10.2%, 20 years: 8.1%
Princeton: 1 year: 5.6%, 10 years: 10.6%
Stanford: 1 year: 5.6%, 10 years: 9.3%, 20 years: 8.1%
Rice: 1 year: -0.7%, 10 years: 9.3%, 20 years: 7.3%
UTIMCO: 1 year: 9.5%, 10 years: 8.4%, 20 years: 6.3%
https://www.pionline.com/section/endowments
Here's a good tracker... It doesn't include the 20 year returns.. But some peers that we've outperformed on a ten-year time horizon include Duke, UVA, Columbia, Wash U, Northwestern, Tulane, and several others.
Of course, I'd always prefer that we were the best, but it's hazy at best that we're really lagging other institutions in investment performance. I would also assume that our "legacy investments" are over weighted in oil & gas which has been a dog of a sector over the last ten years (though quite good over the last 12 months).
Thanks for the link, and I agree. Would be nice to hit those Yale/Brown returns though.