UTIMCO Performance

  • UTIMCO's net asset value between August of 2001 and July of 2002 dropped from $14,140,400,000 to $13,277,400,000. The Permanent University Fund saw an 11% drop from $8,452,000,000 to $7,540,000,000 between 2000 and 2001, and fell to $6,707,000,000 by July of 2002. See the numbers.
  • A study by Fortune Magazine ranked the University of Texas last out of the top five university investment companies in the nation, showing a -4% return for the year 2001.
  • UTIMCO lost $10 million from a fruit company that went bankrupt. Shortly afterward, it was discovered that the fruit company investors had ties with UTIMCO officials, prompting investigations by some state legislators into the board's investment practices.
  • UTIMCO's involvement with WorldCom resulted in a loss of $50 million when the corporation went under.
  • UTIMCO receives its financial advice from the firm Vinson and Elkins, the same firm that advised Enron. UT has stated it will not end its relationship with the firm.
  • Performance Blackout

    This chart from a Houston Chronicle article (9/16/2002) shows UTIMCO's continuing dishonesty in its financial disclosures.