About

UVIMCO provides investment management services to the University of Virginia and its related foundations.

The University of Virginia Investment Management Company (UVIMCO) invests the endowment and other long-term funds held by the University and its foundations in a Long Term Pool, approximating $8.6 billion as of June 30, 2017.

The Long Term Pool is custom managed for the endowment spending requirements and risk profile of the University. 

UVIMCO invests the endowment and other long-term funds held by the University and its foundations in a Long Term Pool, approximating $8.6 billion as of June 30, 2017. The Long Term Pool is custom managed for the endowment spending requirements and risk profile of the University. 

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UVIMCO also manages a Short Term Pool for University and foundation funds with near-term liquidity needs.

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The University of Virginia’s strong endowment has been a critical asset in enabling the University to expand its program offerings and facilities and attract high-quality students and faculty.

The University’s endowment-per-student ratio is one of the largest among U.S. public institutions of higher education. In the United States, the University of Virginia’s consolidated endowment

  • ranks among the five largest endowments for public universities, and
  • ranks among the twenty largest endowments of all colleges and universities.

Investment philosophy

At UVIMCO, we maintain a consistent investment philosophy and process by adhering to five core principles to guide our investment of the Long Term Pool.

1. Invest for the long term.

We are long-term investors. Our relatively long time horizon allows us to capitalize on market inefficiencies and risk premiums that arise from other investors’ focus on short-term news and market events. Our ability to avoid imprudent reactions to short-term dislocations gives us the potential to outperform investors who are unable to take a long-term view.

2. Partner with extraordinary investment managers.

We work with outstanding external managers. UVIMCO pursues exemplary long-term returns through our investment manager selections, asset allocation decisions and portfolio tilts that take advantage of economic themes. Our disciplined research and pattern recognition process allows us to partner with managers who demonstrate a competitive edge in security selection and asset allocation.

3. Focus on price.

We believe price matters. Behavioral biases of other investors with different investment time horizons can cause prices of investments to differ from their fundamental values for long periods of time. At UVIMCO, we believe in the long-term reversion to fundamental values and maintain that superior long-term returns depend on investing in securities, themes and asset classes with current prices below their fundamental values.

4. Retain an experienced and dedicated staff.

We seek a team of talented professionals committed to both investment excellence and supporting the University. We believe our success is largely dictated by the quality of the people on the UVIMCO team and the long-term partnerships we maintain with external investment managers. Our staff demonstrates a strong work ethic, a passion for investing, a commitment to teamwork, and a desire to put the University’s interests above personal interests.

5. Diversify our investments.

We believe in the benefits of diversification. We expect the quality of our research and investment selection to lead to good results over time, but we understand certain decisions will be unsuccessful. Therefore, we diversify our investments across asset classes, themes, and managers. We pursue strategies and investments in our areas of expertise and decline opportunities outside our realm of expertise, acting with humility and maintaining conviction in our investment process.

Please see our annual reports for additional details.