University of Virginia Investment Management Company (Uvimco)—2007

26 Pages Posted: 5 Apr 2010

See all articles by Robert M. Conroy

Robert M. Conroy

University of Virginia - Darden School of Business

Abstract

This case involves the decision to move investment funds to a new fund manager. The new fund has high percentage of its assets in nontraditional assets such as hedge funds and private equity. The learning objectives of the case are to provide background on the different types of assets available for investment by large endowment portfolios. The case also provides an opportunity to discuss market efficiency and the risk return trades involved with nontraditional assets.

Excerpt

UVA-F-1570

October 7, 2009

University of Virginia Investment Management Company

(UVIMCO)—2007

Sarah Johnson had been asked by the investment committee of the Darden School Foundation to review the investment policies and results of the University of Virginia Investment Management Company (UVIMCO). For the past 10 years, the Darden Foundation, with over $ 250 million in assets, had through the investment committee managed the school's endowment. The returns earned by UVIMCO had outperformed those earned by the Darden portfolio. Recently, a number of trustees had questioned the existing policy and wondered why Darden did not just invest with UVIMCO, which managed the University of Virginia endowment. There was also considerable pressure from some donors who were asking the same question. The board of trustees needed more information to make an informed decision.

University Endowments

. . .

Keywords: portfolio management, hedge funds, asset allocation

Suggested Citation

Conroy, Robert M., University of Virginia Investment Management Company (Uvimco)—2007. Darden Case No. UVA-F-1570, Available at SSRN: https://ssrn.com/abstract=1583738

Robert M. Conroy (Contact Author)

University of Virginia - Darden School of Business ( email )

P.O. Box 6550
Charlottesville, VA 22906-6550
United States

HOME PAGE: http://www.darden.virginia.edu/faculty/conroy.htm

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