University of Massachusetts

Generated outreach message alignment report
1. You’ve grown and maintain a large global equity allocation, signaling appetite for global, high-conviction stock-pickers.
A concentrated, best-ideas global/EM manager can plug directly into your global equity sleeve and complement existing exposures.
Evidence
“Over the last decade, the endowment generated a 10-year annualized return of 6.9%, exceeding UMF’s long-term return objective and reflecting the strategic growth of the portfolio’s exposure to global equities and strong partnerships with high caliber investment managers.” “Global equity 37.0% 4.9%”
2. You have meaningful hedge fund exposure (incl. long/short) and accept quarterly-to-annual liquidity with lock-ups up to 2 years.
A low-correlation, absolute-return, owner-managed hedge fund with pragmatic liquidity terms fits your existing alternatives program.
Evidence
“Multi-strategy hedge funds: Long/short 207,790 - Quarterly to annual 45–90 days Lock-up provisions range from none to 2 years.” “Multi-strategy hedge funds: Equity 378,766 3,196 Daily to annual 1–90 days Lock-up provisions range from none to 2 years.”
3. You are comfortable investing via commingled funds and LPs priced at NAV and holding them over time.
A boutique hedge fund offered via a commingled LP with NAV reporting aligns with your operating preferences.
Evidence
“As a practical expedient to estimate the fair value of the University’s interests, certain investments in commingled funds and limited partnerships are reported at the net asset value (NAV) determined by the fund managers.” “As of June 30, 2024 and 2023, the University had no plans or intentions to sell such investments at amounts different from NAV.”
4. You emphasize a multi-year horizon and long-term compounding through volatility.
A long track record and high-conviction approach that endures cycles aligns with your 5–10 year investment horizon.
Evidence
“The investment horizon for this portfolio is 5 to 10 years.” “This ten-year return was produced with annual investment results that ranged from a low of -13.5% in FY2022 to a high of 37.1% in FY2021, underscoring the importance of having a long-term focus.”
5. You give managers full discretion within guidelines.
This supports allocating to a concentrated, best-ideas, high-conviction manager that needs flexibility to deliver alpha.
Evidence
“UMF’s investment policy allows each portfolio manager full discretion within the parameters of the investment guidelines specific to that manager.”
6. Your international equity sleeve is notably smaller than domestic, suggesting room to deepen non-U.S. exposure.
A global/EM-focused stock picker can diversify a U.S.-biased equity book and tap less efficient markets.
Evidence
“Domestic equities - 140,177 - - 140,177” “International equities - 51,240 - - 51,240”
7. You prioritize partnering with high-caliber external managers to meet long-term return goals.
An entrepreneurial, owner-managed firm with a differentiated, low-correlation process aligns with your manager quality focus.
Evidence
“…reflecting the strategic growth of the portfolio’s exposure to global equities and strong partnerships with high caliber investment managers.”