The primary investment objective of the Portfolio is to achieve an annualized total return (net of fees and expenses), through appreciation and income, equal to or greater than the rate of inflation (as measured by the broad, domestic Consumer Price Index) plus any spending and administrative expenses thus, at a minimum maintaining the payouts to campus, Wichita State University. The assets are to be managed in a manner that will meet the primary investment objective, while at the same time attempting to limit volatility in year-to-year spending.

In seeking to attain the investment objectives set forth, the Committee shall exercise prudence and appropriate care in accordance with theUniform Prudent Management of Institutional Funds Act (hereinafter “UPMIFA”). UPMIFA requires fiduciaries to apply the standard of prudence “to any investment as part of the total portfolio, rather than to individual investments”. All investment actions and decisions must be based solely on the best interests of the Foundation. Fiduciaries must provide full and fair disclosure to the Committee of all material facts regarding any potential conflicts of interest.

1. Board of Directors
   • The Board has ultimate fiduciary responsibility for the Portfolio and has delegated general oversight to the Committee.
2. Investment Committee
   • The Committee is responsible for following the provisions of this IPS. This responsibility includes approving investment strategy; hiring and firing of investment managers, custodians, and investment consultants; monitoring the performance of the Portfolio on a regular basis (at least quarterly); maintaining sufficient knowledge about the Portfolio and its managers to be reasonably assured of their compliance with the IPS. Additionally, the Committee will formally review the performance of the investment consultant on at least an annual basis.
3. Vice President of Finance and Operations
   • The Vice President of Finance and Operations has daily responsibility for administration of the Portfolio. She/he will serve as primary contact for the Foundation’s investment managers, investment consultant, and custodian.
4. Investment Consultant
   • The Committee shall retain the services of an investment consultant. The investment consultant is responsible for assisting the Committee and Vice President of Finance and Operations in all aspects of managing and overseeing the Portfolio. The consultant is the primary source of investment education and investment manager information. On an ongoing basis the consultant will:a. Provide proactive recommendationsb. Supply the Committee with reports (e.g., asset allocation studies, investment research and education) or information as reasonably requestedc. Monitor the activities of each investment manager or investment fund

     d. Provide the Committee with quarterly performance reports within 45 days following the end of the quarter

     e. Review this IPS with the Committee at least annually.

     f. Meet with the Committee at least quarterly, more frequently as needed.

The distribution rate is based upon a total return approach, which utilizes both income and capital appreciation to be withdrawn for spending. The maximum allowable spending amount for the Foundation shall be the distribution rate set by the Board on an annual basis in compliance with UPMIFA. The distributions rate shall be calculated using a five-year moving average of the endowment fund market values. The current approved distribution rate is 5.65% (4.00% payout to campus and 1.65% administrative fee).

You can view and download our Endowed Funds investment performance here.