At Somerville our endowment has been growing steadily over recent years. This is the combined result of the ongoing generosity of our alumni, our fundraising campaigns for the Margaret Thatcher Scholarship Trust and the Oxford India Centre for Sustainable Development, and underlying capital gains on our investment. For some years now we have been putting all our new money with OUem, with the ultimate aim that they will be responsible for managing a significant portion of our endowment fund.
We benefit greatly from our access to the high-quality people at OUem and we value and appreciate the transparency and honesty of their dealings with us. We value the long term view they are able to take and the emphasis on delivering a reliable income stream with low capital volatility.
Endowment distribution accounts for 20% of our total unrestricted and restricted income so it is very important to us. We have come to trust OUem’s ability to deliver their portion of this income stream.