2016_SUNY_Optometry_PRR

T H E S T A T E U N I V E R S I T Y O F N E W Y O R K

Notes to Financial Statements June 30, 2015 and 2014

4. Investments (continued)

The composition of investments at June 30, 2015 and 2014 is as follows (in thousands):

2014

Unit Value Fair Value

Investment income is reported net of investment fees of approximately $6 million and $10 million at June 30, 2015 and 2014, respectively. At June 30, 2015 and 2014, the State University had non-equity investments and maturities as summarized in Table A. Credit quality ratings of the State University’s investments in debt securities, as described by Moody’s, S&P, and Fitch as of June 30, 2015 and 2014 are summarized in Table B. The State University did not have any exposure to foreign currency risk for investments held at June 30, 2015 and 2014. 2014 State University Campuses $ 7,456 5,918 Cornell Statutory Colleges 867,372 839,042 Alfred Ceramics 21,581 21,926 Research Foundation 168,387 209,061 State University Construction Fund 31,370 31,422 Total investments $ 1,096,166 1,107,369 2015 2014 Cash and money market funds $ 26,332 48,633 Non-equities 53,308 52,146 Domestic and international equities 22,360 40,324 Hedge funds 117,192 114,216 External investment pools 858,605 832,597 Other investments 18,369 19,453 Total investments $ 1,096,166 1,107,369 Short-term $ 204,772 243,537 2015

The Research Foundation maintains a diverse investment portfolio and follows an investment policy and asset guidelines approved and monitored by its board of directors. The portfolio is mainly comprised of mutual funds, exchange-traded funds and alternative investments of high quality and liquidity. Investments are held with the investment custodian in the Research Foundation’s name. Investments of the Construction Fund are made in accordance with the applicable provisions of the laws of the State and the Construction Fund’s investment policy and consist primarily of obligations of the United States government and its agencies. These investments are held by the State’s agent in the State University Construction Fund’s name. Investments of Alfred Ceramics were derived from its individual financial statements. Endowments Long-term Investment Pool $ 58.45 $ 787,534 Charitable Gift Annuities Master Trust Units 1.44 12,351 Charitable Trusts Endowment Strategy 57.56 19,420 Common Trust Fund - Growth 33.65 7,896 Common Trust Fund - Income 13.57 2,941 Common Trust Fund - Premier 8.91 693 Pooled Life Income Funds PLIF A 1.37 720 PLIF B 2.53 1,042 Total External Pools $ 832,597

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