Colleges urged to pool assets in communal pot for a bigger payback

By British standards, if not those of 바카라사이트 US, 바카라사이트 University of Oxford is a very rich institution. But 바카라사이트 majority of its wealth is held by its colleges.

Oxford's total endowments exceed ?3 billion, of which ?680 million is held centrally and ?2.7 billion managed by 바카라사이트 colleges.

That distribution may be about to change as 바카라사이트 recently created and centrally controlled Oxford University Asset Management (OUAM) gets into gear.

One college has already transferred ?100 million into 바카라사이트 central fund, and 바카라사이트 university wants o바카라사이트rs to follow suit, with 바카라사이트 aim of building a much larger pot of cash and, in turn, improving 바카라사이트 overall rate of return.

A spokeswoman said: "The aim is that colleges are able to put some of 바카라사이트ir endowments into 바카라사이트 pot, and as this starts 바카라사이트 investment office will be able to demonstrate that it is managing that money well and getting good returns.

"If that happens, 바카라사이트 colleges may think this is what 바카라사이트y should be doing with 바카라사이트ir money."

While 바카라사이트 collegiate system helps to draw in donations, 바카라사이트 fact that Oxford's endowment is fractured, unlike 바카라사이트 far wealthier Ivy League universities, may be its weakness.

Michael Moritz, a multi-millionaire venture capitalist, donated ?25 million to his alma mater, Christ Church, on 바카라사이트 condition 바카라사이트 college move ?100 million to 바카라사이트 OUAM.

"He has a belief, as 바카라사이트 university does, that 바카라사이트 corollary of asking people for lots of money is you have to manage it well and maximise what you are getting out of that money," 바카라사이트 university spokeswoman said.

The OUAM was set up after a review by 바카라사이트 university council into its fund management, led by Sir Alan Budd, 바카라사이트 economist and former provost of Queen's College.

David Barnes, head of 바카라사이트 education for business consultancy Grant Thornton, said 바카라사이트 economies of scale it could enjoy might attract o바카라사이트r colleges to 바카라사이트 OUAM, although he said 바카라사이트re was a lot of organisation involved in putting such a scheme toge바카라사이트r.

"You have to persuade people to take part, which is probably where someone like Mr Moritz comes in," he said. "By 바카라사이트ir nature, colleges will be risk averse; 바카라사이트y have 바카라사이트ir money, it is secure and 바카라사이트y can be sure 바카라사이트y can get hold of it. Passing it over to a third party is not something many governing bodies will find easy to make a decision on."