Dartmouth's endowment, valued at more than $3.76 billion, includes more than 5,250 individual funds, each with its own set of instructions regarding the purpose to be supported. Over 99 percent of the College's endowment is invested in the Total Return Pool and virtually all new gifts are added to this investment pool. The pool operates like a large mutual fund in that each endowment fund owns shares that represent claims on the pool's commingled assets. The Investment Committee of the Board of Trustees has determined that a well-diversified mix of assets offers the best opportunity for maximum return with acceptable risk over time. The neutral asset allocation policy adopted by the Investment Committee includes 20% domestic equity, 20% marketable alternatives, 15% real assets, 15% private equity, 15% international equity, 10% fixed income and 5% in emerging markets. In order to achieve these targets, the College's Investment Office contracts with professional asset managers whose expertise and demonstrated performance best match Dartmouth's investment goals in a particular asset class. The College's investment philosophy is shared with these external managers and their performance is regularly evaluated.
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