UPDATE: 29th July – New FOI Response

UPDATE: An FOI request response was received on 23rd July and confirms that the University’s endowment capital continues to be held almost entirely as cash on deposit awaiting reinvestment. The fund stands at just over £11.1 million and a decision regarding reinvestment will be made by the Vice Chancellor through the Finance Advisory Group. The University also continues to hold 4628 shares in Royal Dutch Shell (its only direct investment) with a current value of just over £80,000.

The FOI request (LSref 10774) and response are copied below for completeness:

Dear University of Southampton,

On the 8th May this year a response was provided to FOI Request LSRef 10621 regarding the University’s endowment fund investments. For ease of reference the key part of the response is copied below:

“I have been given to understand that the fund in which the University had its endowment investment has been closed, so – with the exception of 4628 Royal Dutch Shell shares donated to the University and held to fund an endowment – all the University’s endowment capital is held as cash on bank deposit while a replacement fund for investment is found.”

Under the Freedom of Information Act we would like to submit some follow-up questions for further information. Specifically:

I. What is the total combined value of the University’s endowment capital both currently invested and held as cash?

II. If the reinvestment of the capital previously held as cash has already taken place please provide a breakdown of the stocks, shares and/or funds it has been placed in.

III. When, and by which individual or group of University of Southampton staff, was/will the decision to reinvest be made?

Dear Mr Allwright,

Please see below for answers to your questions.

I. What is the total combined value of the University’s endowment capital both currently invested and held as cash?

Cash:            £11,127,644.90

Investments:  4628 Royal Dutch Shell shares (market price is publicly available – see http://www.bloomberg.com/quote/RDSA:LN)

II. If the reinvestment of the capital previously held as cash has already taken place please provide a breakdown of the stocks, shares and/or funds it has been placed in.

N/A

III. When, and by which individual or group of University of Southampton staff, was/will the decision to reinvest be made?

The Vice-Chancellor, through the Finance Advisory Group, will make the decision to reinvest.

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