Emory Report
October 31, 2005
Volume 58, Number 9



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October 31 , 2005
Around Campus

NACUBO publishes endowment returns
The National Association of College and University Business Officers’ (NACUBO) annual review of university endowment performance lists Emory with an investment return of 6.8 percent for the period ending June 2005, based on information provided by the University.

At $4.4 billion, Emory’s endowment is one of the largest in the nation, but the NACUBO-reported rate of return for fiscal year 2005 was less than that experienced by other major university endowments.

Although the assets managed by Emory’s investment team earned a 13.5 percent return, Mary Cahill, Emory’s vice president for investments and chief investment officer, said the fact that the price of Coca-Cola stock dropped 13 percent in the first month of the period covered by NACUBO’s review affected Emory’s reported overall return.

That the 12-month period covered by NACUBO ends in June—while Emory’s fiscal year concludes in August—adds some confusion in publicly reporting Emory’s official annual rate of return for the fiscal year.

“Emory actually had a return of 14.1 percent for fiscal year ’05, which is comparable with other top universities,” Cahill said. “The assets managed by our investment team also showed an increase at a 17.7 percent return. We anticipate that this rate will continue to rise as our portfolio diversifies and as we continue to develop our investment management strategy.”

Emory’s endowment investment in Coca-Cola stock is currently at 16 percent (approximately 11.5 percent is held in trust for the Woodruff Health Sciences Center Fund).

“Coca-Cola stock has benefited Emory greatly over the years and has enabled us to develop resources to enhance our investment initiatives,” Cahill said.

More online help with courtesy scholarships
Emory employees now can check their eligibility for the University’s Courtesy Scholarship program through the Human Resources (HR) Employee Self-Service module on the HR website.

To view eligibility, simply visit www.leo.cc.emory.edu/, login using a valid Emory ID and password, click on “Benefits Information” and then “Education Benefit Program.” More information about Courtesy Scholarships is available at http://emory.hr.emory.edu/benefits.

BusinessWeek ranks Exec MBA program No. 6
Goizueta Business School’s W. Cliff Oxford Executive MBA Program placed No. 6 in BusinessWeek’s biennial rankings of all such programs worldwide. The magazine surveyed 3,400 executive MBA students and 61 program directors to determine its rankings, shifting its formula this year to place more weight on student opinion.

“After getting to know all of the people at Goizueta—the students, faculty and staff—this ranking is not surprising,” said Dean Larry Benveniste, who became dean on July 1. “We’re very proud. You can expect even greater things in the future.”

This year the Executive MBA Program graduated its 25th class.