Annual publication of Endowment Investment Funds 2015-16

Following the issuance of a joint statement from the Vice-Chancellor and President of the Student’ Union on 30 November 2015 the University published an Endowment Investment Policy:

The University is committed to the implementation of this policy.

As at 31 July 2016 the University held a total of £39.7m of endowment funds:

£34.4m of the endowment funds were held with the University’s investment managers Sarasin & Partners.

  • £30.1m of endowment funds were merged to enable their management as a segregated portfolio of sufficient scale to form the University of Sheffield Endowment Pool. The total value of this new merged University of Sheffield Endowment Pool was £36.0m, consisting of £19.3m of Restricted Permanent Endowment Funds, £7.9m of Unrestricted Permanent Endowment Funds and £2.9m of Restricted Expendable Endowment Funds, totalling £30.1m. In addition the new policy was also applied to £5.9m of the University’s own Fixed Asset Investments held with Sarasin & Partners, so these were merged within this pool. This new merged University of Sheffield Endowment Pool was reviewed by the Investment Group to ensure its compliance with the Endowment Investment Policy.

  • £4.3m was held within the Yorkshire Cancer Endowment Pool. In view of an agreement to return these funds to Yorkshire Cancer Research subsequent to the year end for their direct management by them, the funds were not subject to the University policy.

£4.6m of endowment accumulated income was held as cash with the University of Sheffield’s banker.

£0.4m of endowment funds received by the University prior to the year end, held as cash and invested by Sarasin & Partners just after the year end

£0.2m of endowment funds held with Hargreaves Lansdown. These funds are separated into two pools:

  • £0.1m within the main fund (Twikker income fund) managed by the original donor with interaction with the University of Sheffield Investment Society

  • £0.1m within the student fund (Twikker student fund) managed by the fund group within University of Sheffield Investment Society with oversight by the original donor

£0.1m of accrued endowment funds which were not received at 31 July 2016 and met specific criteria under accounting standard FRS102.