Consolidated Investment Fund
FY 2021-22
The UNM Board of Regents has delegated authority to the UNM Foundation Investment Committee to oversee investment and manage the endowment assets of the University and the Foundation. The pooled assets are combined for purposes and operated as a unitized pool known as the Consolidated Investment Fund (CIF). The CIF is managed in accordance with the Consolidated Investment Fund Investment Policy, which is approved by both the UNM Foundation Board of Trustees and the UNM Board of Regents.
CIF investments are invested for the long-term using a diversified approach, with the principal goal of maximizing the return at a commensurate and acceptable level of risk, to benefit UNM. Investment strategy is guided by the concept of complementary managers that are responsible for specific asset categories and management styles in a diversified portfolio (see “CIF Asset Allocation” chart).
The CIF finished the year with a market value of approximately $604.0 million, compared to $580.3 million a year ago, and an investment return of -6.0 percent.
In addition to the customary investment management expenses, a development funding allocation (DFA) of 1.85% is assessed against each participating fund to assist with operational expenses.
| As of June 30, 2022 | UNM CIF | BENCHMARK |
|---|---|---|
| 2020-2022 | -6.0% | -6.4% |
| 3-Year | 7.3% | 7.4% |
| 5-Year | 6.8% | 7.2% |
| 10-Year | 7.2% | 7.4% |
CIF Spending Distribution - FY 2021-22
| Fiscal Year | Millions |
|---|---|
| FY 11-12 | 14.00 |
| FY 12-13 | 13.50 |
| FY 13-14 | 13.80 |
| FY 14-15 | 14.90 |
| FY 15-16 | 15.90 |
| FY 16-17 | 15.00 |
| FY 17-18 | 15.50 |
| FY 18-19 | 16.00 |
| FY 19-20 | 16.50 |
| FY 20-21 | 18.30 |
| FY 21-22 | 21.40 |