Markets 2023 - 2024
00UC Endowment
The UC Endowment is $29.5B, which includes the General Endowment Pool and the Blue and Gold Endowment Pool.
- UC Endowment
- Net Return: 12.8%
- General Endowment Pool
We have been investing the General Endowment Pool for 92 years.
The endowment is $22.6 billion in assets, divided among 6,800+ funds.
It supports 295,573 UC students.
The 2024 payout to campuses is $710 million.
- General Endowment Pool
- Gross return: 12.6%
- Net return: 11.7%
- 30-year annualized net return: 9.3%
Since 2014, this amounts to $1.4 billion in value added (over the benchmark) with asset growth of $15 billion, $7.3 billion in investments from campuses, and $892 million in fees saved.
- Blue and Gold Endowment Pool
- We have been investing the Blue and Gold Endowment Pool for 5 years.
- The endowment is $6.9 billion in assets.
- It supports 8 campuses.
- The 2024 payout to campuses is $175 million.
- Blue and Gold Endowment Pool
- Gross return: 15.7%
- Net return: 15.7%
Centennial Investing
UC Endowment 1994–2024$ Billions
Pension
- We have been investing the pension for 64 years.
- The pension stands at $98.5 billion.
- It supports 279,546 members, 54% of them active.
Employer contribution: 14%- Employee contributions: 7% to 9%
- Gross return: 12.7%
- Net return: 12.2%
- 30-year annualized net return: 8.6%
- Funded ratio (market value): 85%
- Funded ratio (actuarial): 83%
- Discount Rate: 6.75%
Since 2014, we grew assets by $47 billion while saving $2.1 billion in fees.
Centennial Investing
Pension 1994–2024$ Billions
UC Retirement Savings Program
- The Retirement Savings plan serves 352,600 members, making it the second-largest U.S. public defined contribution plan, behind the federal government.
- The plan offers participants the best choices at the lowest cost of any plan in the United States.
- Total assets: $39 billion across three plans.
- We make investing for retirement simple. Since 2014, we’ve streamlined investment choices from 75 to 16.
- We are always innovating. We have launched the Blue and Gold Endowment Pool as an investment choice for all our participants.
- We made the investment fund lineup fossil- free, with an industry leading management fee of 0.05%.
Since 2014, assets have grown by $19 billion, and we’ve added $555 million in value (over the benchmark) for our participants and saved them $105 million in fees.
Centennial Investing
UC Retirement Savings Program 1994–2024$ Billions
UC Working Capital
Our 10 campuses and six academic health centers rely on working capital to pay for the mission-critical projects and programs that make UC the gold standard of U.S. public universities.
- UC Working Capital
- Net return: 9.7%
- Total Return
- We have been investing the Total Return Investment Pool for 15 years.
- Total Return is $9.8 billion in assets.
- Total Return
- Gross return: 12.2%
- Net return: 12.1%
- 15-year annualized net return: 7%
- Short-Term
- We have been investing the Short-Term Investment Pool for 49 years.
- Short-Term is $3 billion in assets.
- Short-Term
- Gross return: 5.4%
- Net return: 5.4%
- 15-year annualized net return: 2.1%
- 30-year annualized net return: 3.6%
Centennial Investing
UC Working Capital (1994–2024)$ Billions
Endowment
Critical financial support for the programs and initiatives that make our public research university system the best in the world.
Highlights
As of June 30, 2024Net Returns
As of June 30, 2024Asset Allocation Drives Returns
As of June 30, 2024Performance
Annualized Net Return (%) as of June 30, 2024Asset Allocation Over Time
As of June 30, 2024- 2024
- 1 Year Ago
- 5 Years Ago
- 10 Years Ago
- 20 Years Ago
Asset Growth Over 10 Years
As of June 30, 2024
Passive Investments Increased by 42%
- 2014
- 2024
$7.3 Billion in Campus Investments
As of June 30, 2024Policy Benchmarks
June 30, 2024Risk Volatility
As of June 30, 2024Risk Allocation
As of June 30, 2024Blue and Gold Endowment Pool
An investment vehicle created in March 2019 that helps our campuses increase their revenues while reducing reliance on state funds.
Highlights
As of June 30, 2024Net Returns
As of June 30, 2024Asset Allocation Drives Returns
As of June 30, 2024Performance
As of June 30, 2024Assets
As of June 30, 2024$ Millions
Policy Benchmarks
As of June 30, 2024Net Returns
As of June 30, 2024Pension
A plan that invests across a broad range of asset types to provide retirement income security for all our members.
Highlights
As of June 30, 2024Net Returns
As of June 30, 2024Asset Allocation Drives Returns
As of June 30, 2024Performance
Annualized Net Return (%) as of June 30, 2024Asset Allocation Over Time
As at June 30, 2024- This Year
- 1 Year Ago
- 5 Years Ago
- 10 Years Ago
- 20 Years Ago
Assets Over 10 Years
Pension Funded Ratio
Pension is 83% funded on an actuarial basis.Passive Investments Increased by 47%
As of June 30, 2024- 2014
- 2024
Policy Benchmarks
As of June 30, 2024Risk Volatility
As of June 30, 2024Risk Allocation
As of June 30, 2024UC Retirement Savings Program
The Retirement Savings Program serves 352,600 members, making it the second largest U.S. public defined contribution plan behind the federal government.
Highlights
As of June 30, 2024Investment Choices
Assets Over 10 Years
As of June 30, 2024
Passive Investments Increased by 42%
- 2014
- 2024
Target Date Funds Performance
Annualized Net Return (%) as of June 30, 2024Equities Core Lineup Performance
Annualized Net Return (%) as of June 30, 2024Fixed Income Core Lineup Performance
Annualized Net Return (%) as of June 30, 2024UC Working Capital
Our 10 campuses and six academic health centers rely on working capital to pay for the mission-critical projects and programs that make UC the gold standard of U.S. public universities.
Assets Over 10 Years
As of June 30, 2024
1 Year Net Returns
As of June 30, 2024
15 Year Net Returns
As of June 30, 2024
Total Return Investment Pool
A working capital portfolio created in August 2008 with an asset and risk allocation geared to an intermediate-term horizon.
Highlights
As of June 30, 2024Net Returns
As of June 30, 2024Asset Allocation Drives Returns
As of June 30, 2024Performance
Annualized Net Return (%) as of June 30, 2024Asset Allocation Over Time
As of June 30, 2024- 2024
- 1 Year Ago
- 5 Years Ago
- 10 Years Ago
- 15 Years Ago
Asset Growth Over 10 Years
As of June 30, 2024
Passive Investments Increased by 72%
As of June 30, 2024- 2014
- 2024
Policy Benchmarks
As of June 30, 2024Risk Volatility
As of June 30, 2024Risk Allocation
As of June 30, 2024Short-Term Investment Pool
A working capital portfolio managed to ensure adequate liquidity to meet our system’s cash needs.
Highlights
As of June 30, 2024Net Returns
As of June 30, 2024Asset Allocation Drives Returns
As of June 30, 2024Performance
Annualized Net Return (%) as of June 30, 2024Assets Over 10 Years
As of June 30, 2024