The Investment Office manages the CUNY Long Term Investment Pool (“LTIP”) and the Short Term Investment Pool (“STIP”).
The Long Term Pool is a professionally-managed diversified portfolio designed to serve the financial needs of the University and participating colleges wishing to invest both endowed and non-endowed assets. Its objective is to provide relatively predictable and stable annual spending, while preserving and enhancing the purchasing power of the investments for the benefit of future generations of students. To achieve these objectives, the Pool operates under a Board of Trustees approved investment policy, including an asset allocation strategy and spending policy, which reflects the proper balance of CUNY’s investment objectives, risk tolerance and need for liquidity.
The LTIP is governed by the CUNY Board of Trustees and two Board Committees (Fiscal Affairs and its Subcommittee on Investments). Together with CUNY Investment staff and the Pool consultants, they are responsible for reviewing asset allocation, new asset classes, investment strategies and manager performance.
The Short Term Investment Pool is a professionally- managed, diversified portfolio designed to provide the colleges and related entities with a centralized alternative to money market funds and other low-yielding investment vehicles. Its objective is to provide a return greater than that achievable through investment in common money market funds with minimal risk. To achieve these objectives, the STIP operates under a Board of Trustees approved investment policy, including an asset allocation strategy with separate short-, intermediate- and long-term maturity tiers intended to increase diversification and expected return, while maintaining a stipulated liquidity profile.
The Investment office is experienced in the supervision and administration of large investment funds. Together with the external investment consultants, the office addresses all aspects of the investment process for each of the Pools described above. As such, they spearhead studies and reviews related to the portfolio’s goals, objectives, asset allocation, investment structure, as well as existing and prospective managers. In addition, they develop related investment and spending policies for consideration by the Board. Once approved, the office is responsible for execution of investment and spending policies in the light of approved asset allocation and related regulations; on-going due diligence of existing and prospective managers, including the negotiation of manager guidelines, fees and execution of related legal documents. They are also responsible for manager transitions and Pool rebalancing. Finally, the office is charged with the on-going administration, accounting and client service for the Pool’s participating colleges and foundations.
Office of Budget and Finance
230 West 41St Street
New York, New York, 10036
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Office of the University Controller