To evaluate the success of the investment program the University compares its' investment performance to that of various benchmark indices.
The University established a hybrid benchmark against which to evaluate its' investment performance. The hybrid benchmark presently consists of six indices, outlined in the table below.
| Sector | Benchmark | Percentage |
|---|---|---|
| Domestic equity | Russell 3000 | 45% |
| International equity | MSCI EAFE | 20% |
| Emerging markets equity | S&P/IFCI Composite | 5% |
| Alternative investments: Hedge funds | 3-month T-bills plus 5% | 2.5% |
| Real estate | Russell-NCREIF | 5% |
| Global fixed income | Salomon WGBI (50% hedged/50% unhedged) | 22.5% |