We are stewards of the resources entrusted to us.
We manage more than $6 billion in assets. Each year, we intend to pay out approximately five percent of our endowment, which in 2016 equates to an annual grant budget of roughly $315 million.
Our investment objective is to protect the purchasing power of the endowment in perpetuity, and the investment portfolio is a collection of diversified assets designed to deliver relatively stable returns in a variety of market environments. Our investment team strives to balance the competing goals of generating a long-term return in excess of spending and inflation while providing a predictable, stable source of funds for current programs. Success in this approach will enable us to address the challenges of today and those of future generations.