Asset Allocation
The RMC’s asset allocation strategy is to achieve a highly diversified long-term portfolio return while maintaining acceptable levels of risk exposure (risk defined in terms of volatility of returns). This chart illustrates the Board-approved asset allocation targets.
As of June 30, 2023
Performance
The endowment return for the fiscal year ended June 30, 2023 was 4%. The chart below shows the Rice endowment’s historical performance as compared to benchmarks.
FY23 Returns
Philosophy
To support the in-perpetuity status of the endowment, we believe a long-term portfolio should be:
- Equity-oriented
- Diversified
- Invested in real assets such as natural resources
- Value focused and valuation sensitive
- Fee sensitive
- Partnered with managers who have a real investment edge.