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UNIVERSITY OF VIRGINIA INVESTMENT REPORT - PRELIMINARY
February 28, 2003
DOMESTIC EQUITY
MKT VAL
($000's)
99,909
Asset Allocation
PEF
Target
5.3%
5.0%
Russell 3000
INTERNATIONAL EQUITY
EMERGING MARKETS
83,375
83,375
4.4%
4.4%
5.0%
5.0%
MSCI All-Country World ex U.S. Free
MSCI EMF
PRIVATE EQUITY
DOMESTIC BUYOUTS
INTERNATIONAL BUYOUTS
VENTURE CAPITAL
267,987
170,356
30,364
67,267
14.2%
9.0%
1.6%
3.6%
20.0%
12.5%
2.5%
5.0%
UVa Private Equity Blended Index †
Russell 3000 + 400 bp
MSCI AC World ex. U.S. Free + 400 bp
HEDGE FUNDS
1,138,541
60.2%
60.0%
UVa Hedge Fund Blended Index ‡
REAL ASSETS
REAL ESTATE/TIMBER
67,959
67,959
3.6%
3.6%
5.0%
5.0%
91-Day T-Bills + 500 bp
FIXED INCOME
177,794
9.4%
ML 7-10 Yr Government
CASH
UVA Managed
50,323
4,657
TOTAL FUND
1,890,546
UVA ADMINISTERED ENDOWMENT
TOTAL ENDOWMENT
Historical
FY 02 FY 01 FY 00
-12.0
4.8
-3.4
3 YR
-5.7
Annualized
5 YR
10YR 20 YR
-1.5
8.0
---
-1.7
-4.1
-9.4
-14.2
-17.2
-13.9
9.6
-14.0
-3.0
8.3
---
-1.2
-1.2
-0.8
-0.8
-3.5
-3.5
-9.2
-9.2
-7.7
12.5
-21.5
-10.8
22.2
5.8
-14.2
-6.0
-2.2
0.4
4.9
---
-----
-2.1
-3.2
-5.5
-3.7
-8.6
-7.0
-18.6
-12.0
-8.2
-1.0
-25.4
-27.5
16.6
7.7
-17.6
-17.3
-6.0
-7.7
2.7
---
-----
-2.4
1.2
-3.8
-8.8
-2.6
0.9
-1.3
-9.4
-1.0
3.0
4.3
-9.9
-0.1
15.2
8.1
-25.2
-10.7
-0.5
21.5
-27.6
-23.2
-22.4
5.1
-33.3
235.7
58.0
85.0
419.5
10.0
2.2
17.8
-0.5
27.7
8.2
1.4
43.2
20.9
----32.3
---------
-1.4
-1.3
-2.0
-3.8
-3.6
-5.1
-8.2
-8.4
-7.5
-12.4
-11.6
-15.6
-11.5
-13.2
-4.2
-11.9
-9.9
-21.4
15.3
13.6
20.6
-10.6
-10.0
-13.4
0.6
1.1
---
11.4
-----
-------
0.7
1.7
3.6
3.8
7.7
18.6
18.7
8.1
11.2
11.9
---
0.0
-0.2
-1.4
-3.0
-5.9
-4.4
11.8
-3.5
3.5
9.8
---
0.3
0.3
-7.8
-7.8
-7.3
-7.3
-7.5
-7.5
-12.6
-19.4
11.7
8.8
6.9
6.9
-2.1
-4.7
2.1
0.5
-----
-----
0.5
1.0
1.5
4.3
7.7
10.9
10.5
8.9
9.3
---
---
3.0
3.9
6.7
13.7
10.4
10.3
5.0
12.8
9.1
7.8
---
2.2
1.5
4.8
11.2
9.7
10.9
4.5
12.3
8.4
7.7
---
0.1
0.1
1.2
1.5
-0.1
2.0
43.7
3.4
12.7
13.4
13.9
-0.3
0.6
-1.2
8.7
-3.1
1.6
-5.2
4.4
-6.2
5.7
-3.3
7.6
10.4
8.4
-3.7
7.0
2.6
7.1
7.2
7.1
11.0
7.7
2.7%
0.2%
Target Benchmark
Spending + Inflation
Pending Funds
Less: Liabilities & Current Funds
POOLED ENDOWMENT FUND
5.0%
Current
MO
CYTD 3MO FYTD
-3.6
-5.4
-10.7
-15.2
25,828
(246,515)
1,669,859
34,375
1,704,234
CURRENT FUNDS
Bonds and Cash
PEF Investment
Current Funds Blend*
319,175
197,387
121,788
0.6
0.9
0.1
0.2
0.6
0.9
0.1
0.3
1.5
1.7
1.2
0.7
2.5
3.0
1.5
2.1
4.8
4.8
--4.2
9.4
9.4
--7.1
4.2
4.2
--5.2
7.0
7.2
--5.2
5.8
6.0
--5.1
5.6
5.7
--5.1
---------
ENDOWMENT CASH RESERVES**
91 Day T-Bill
248,895
0.2
0.1
0.7
0.2
0.8
0.3
1.6
1.1
-----
-----
-----
-----
-----
-----
-----
0.1
0.2
3.1
0.1
1.0
3.9
1.2
2.0
7.0
1.5
0.8
12.5
---0.3
10.5
---4.0
10.1
--2.3
2.8
--1.2
12.3
--0.4
8.4
-------
-------
CHARITABLE REMAINDER TRUSTS
Non-Pool Trust Assets
UVA Pooled Endowment Fund
UVA Core Equity Fund
UVA Bond Fund
UNITIZATION
02/28/03
33,758
4,616
690
20,327
8,125
MV Per Share
$2,467.41
† 80% Russell 3000, 20% MSCI ACWxUS Free, plus 400 basis points.
‡ 30% Russell 3000, 70% 91 Day T-Bills plus 800 basis points.
* 60% 91 Day T-Bills, 40% Merrill Lynch 1-3 Year Treasuries.
** Cash balance plus manager cash and income cash.
UVA Investment Management Company
Accrued Income - Estimated
$2.41