University of Cincinnati cuts draw to boost endowment's growth

Lynn Russo Whylly's picture
Thursday, August 15, 2013

Cutting back regular withdrawals from its $1.03 billion endowment will cost the University of Cincinnati about $1.8 million in its operating budget this year.

UC hopes the change will help the endowment maintain its buying power for generations.

“The draw has been unsustainable,” Chief Investment Officer Karl Scheer said. “If you’re spending more than you make, you’re eating your seed corn.”

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