Tuesday, October 17, 2000

UC endowment tops $1 billion




The Cincinnati Enquirer

        The University of Cincinnati's endowment went over the $1 billion mark for the first time Aug. 31, president Joseph A. Steger confirmed Monday.

        That was the latest complete report on the school's portfolio.

        About two-thirds of the endowment is controlled by UC but managed through fund managers under contract to the school.

        Most of the rest is controlled by the university foundation, and the remainder is controlled by outside trustees.

        Dale L. McGirr, vice president for finance, said August value was $1,004,000,000. That figure is subject to daily fluctuations, Mr. McGirr said, but it was firmly over the symbolic $1 billion mark.

       



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