UC 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, 2024
Gross Return12.6%
Assets$22.6B
Net Return11.7%

Net Returns

As of June 30, 2024

Asset Allocation Drives Returns

As of June 30, 2024

Performance

Annualized Net Return (%) as of June 30, 2024

Asset Allocation Over Time

As of June 30, 2024

Asset Growth Over 10 Years

As of June 30, 2024

Passive Investments Increased by 42%

$7.3 Billion in Campus Investments

As of June 30, 2024

Policy Benchmarks

June 30, 2024

Risk Volatility

As of June 30, 2024

Risk Allocation

As of June 30, 2024

Blue 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, 2024
Gross Return15.7%
Assets $6.9B
Net Return15.7%

Net Returns

As of June 30, 2024

Asset Allocation Drives Returns

As of June 30, 2024

Performance

As of June 30, 2024

Assets

As of June 30, 2024

$ Millions

Policy Benchmarks

As of June 30, 2024

Net Returns

As of June 30, 2024

Pension

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, 2024
Gross Return12.7%
Assets$98.6B
Net Returns 12.2%

Net Returns

As of June 30, 2024

Asset Allocation Drives Returns

As of June 30, 2024

Performance

Annualized Net Return (%) as of June 30, 2024

Asset Allocation Over Time

As at June 30, 2024

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

Policy Benchmarks

As of June 30, 2024

Risk Volatility

As of June 30, 2024

Risk Allocation

As of June 30, 2024

UC 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, 2024

Investment Choices

Assets Over 10 Years

As of June 30, 2024

Passive Investments Increased by 42%

Target Date Funds Performance

Annualized Net Return (%) as of June 30, 2024

Equities Core Lineup Performance

Annualized Net Return (%) as of June 30, 2024

Fixed Income Core Lineup Performance

Annualized Net Return (%) as of June 30, 2024

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.

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, 2024
Gross Return12.2%
Assets $9.8B
Net Return12.1%

Net Returns

As of June 30, 2024

Asset Allocation Drives Returns

As of June 30, 2024

Performance

Annualized Net Return (%) as of June 30, 2024

Asset Allocation Over Time

As of June 30, 2024

Asset Growth Over 10 Years

As of June 30, 2024

Passive Investments Increased by 72%

As of June 30, 2024

Policy Benchmarks

As of June 30, 2024

Risk Volatility

As of June 30, 2024

Risk Allocation

As of June 30, 2024

Short-Term Investment Pool

A working capital portfolio managed to ensure adequate liquidity to meet our system’s cash needs.

Highlights

As of June 30, 2024
Gross Return5.4%
Assets$3B
Net Return5.4%

Net Returns

As of June 30, 2024

Asset Allocation Drives Returns

As of June 30, 2024

Performance

Annualized Net Return (%) as of June 30, 2024

Assets Over 10 Years

As of June 30, 2024

Policy Benchmarks

As of June 30, 2024

Portfolio Maturity

As of June 30, 2024

Portfolio Credit Quality

As of June 30, 2024