�鶹��Ƶ

We believe manager selection is about finding aligned partners. We believe this partnership to be reciprocal and committed to the long term. We aim and hope to grow together and share in the pride and achievements that better financial outcomes can produce, both for �鶹��Ƶ students and faculty scholarship.

To achieve this partnership, we take our time to get to know a firm and its people deeply. We are deliberate, rigorous, respectful, and honest in our research. We see BMC’s legacy and future as our friend, allowing us patience not only in our analysis and decision-making but also in our search for those with whom we partner. Success to us is finding the best partners for BMC, and accurately seeing through noise, volatility, and/or difficulty to back our partners when they need it most.

A bit about our process and what we look for:

• We value transparency both ways. We seek partners that are able and willing to share enough process and portfolio detail (both in data and in dialogue) to allow us to build and maintain conviction, and we also share and invite feedback so that our respective organizations can evolve and become better together.
• We prefer to understand a manager's security selection and portfolio management process by diving deep into details. It helps bring us "into the room" to see how research is prosecuted and decisions are being made.
• Equally important, we prefer to understand the philosophies, values, and people and people-systems that make the process work. We don’t expect or require linear thinking or clean pitches. We hope instead to find exceptional thinkers who strive to compound their organization’s abilities and knowledge.
• Once invested, we plan to stay informed on developments in the portfolio, the team, and the organization. We know organizations evolve in a competitive and changing investment landscape. We simply ask to sit alongside our partners as they elevate their game.

• �鶹��Ƶ has a long legacy educating and preparing women from all walks of life to become leaders in various industries and sectors globally, and in particular has emphasized foundational training in STEM-related fields since inception. The investment returns our managers help generate allow the College to continue this important work.
• You, like us, believe in a fundamentals-based approach to security selection. This means that we generally seek to partner with managers whose investments are anchored on a well-researched view of earnings power, free cash-flow, and/or asset value, as well as rights associated with the security owned.
• We do not judge on short-term track record or solely on prior performance but seek to build conviction and confidence about a forward-looking view, based on the quality and consistency of your process and decisions. We inform our conviction based on what is controllable and repeatable, allowing us to act countercyclically when underlying fundamentals and performance diverge.
• We are long-term and active partners. As much as �鶹��Ƶ benefits from the returns our managers generate, we seek to be thought partners to our managers by contributing our experience, insights, and networks to add value to our managers' organizations and processes.

• Email us! We enjoy reading materials, especially investment letters. We do our best to reply to all inbounds, but that takes time for a small team. We appreciate both your interest and your patience.
• We always welcome the opportunity to meet new manager, so please reach out! We are looking for “best athletes” at all times; however, our areas of focus are often guided by our portfolio’s, and therefore BMC’s, highest and greatest needs, in addition to our curiosity and conviction. Our pace of pursuit consequently is a biproduct of these priorities.
• Conversations or meetings that don't lead to a near-term action are still seeds that may bear fruit down the road. In the meantime, we will be transparent about direction of travel to be fair to you and your team's time. We appreciate firms who can continue to build dialogue with us at a pace that is mutually aligned and meets our honesty in kind.

The Investment Office was established in October 2020 after �鶹��Ƶ decided to bring its investment management function in house.

The investment office is dedicated to supporting the college's mission and ensuring intergenerational equity. This is accomplished by striving for excellent financial returns. The primary objective is to preserve or enhance the inflation-adjusted purchasing power of the endowment's assets over the long term, aiming for a return of CPI-U + 4.5%. This approach allows the endowment to meet the needs of both current and future �鶹��Ƶ generations.

Check out what an  vs. means.

Endowment funds play an important role in supporting the college, providing more than one-third of the operating budget. Spending from the Endowment goes toward funding scholarships, enhancing facilities, supporting various programs, and investing in faculty, allowing the college to maintain its commitment to academic excellence and create enriching experiences for students.

Check out Our Impact to learn where the Endowment has directly helped foster change at �鶹��Ƶ.

The Investment Office’s has four main areas where we apply our time and attention during the investment process:

• We are equity-centric in our approach, seeking good returns through a variety of strategies, liquidity profiles, and geographies.
• We are strategic and programmatic in our approach to researching investment themes
• We maintain curiosity and creativity in the opportunities we pursue, and we are rigorous and holistic in our diligence.
• We build strong relationships with our investment managers and see them as partners in compounding the endowment’s capital.

Check out Our Investment Strategy pages to learn more. 

Questions? While there will always be information about the portfolio we can’t share publicly, we answer everything we’re allowed to and in batches. Please write to us with your curiosities and we’ll get back to you as soon as we can.

The �鶹��Ƶ Investment Office Investment Analyst reports to the CIO and Director of Investments. Responsibilities include:

• Actively participating in meetings with current and prospective managers
• Developing both quantitative and qualitative evaluations of investment opportunities
• Analyzing data to support recommendations.
• Monitoring existing investments, tracking new opportunities, and assessing exposures across individual managers, asset classes, and the entire portfolio to identify trends.
• Contributing to strategic research projects that deepen the team’s understanding of emerging opportunities.
• Learning and growing as an investor and sharing in that learning with others

The �鶹��Ƶ Investment Office Operations Analyst reports to the CIO and Director of Investment Operations and Risk Management. Responsibilities include:

• Performance Reporting production
• Daily Liquidity Monitoring and projection
• Data Fidelity and Reconciliation
• Accounting
• Systems functionality and automation
• Mid-Office reporting design and data visualizations
• Project management of and contribution to Board Meeting Materials preparation
• Liaise with college and systems counterparties
• Ad hoc (including research-related) tasks
• Learning and growing as an operations professional and sharing in that learning with others