The Long-Term Investment Pool (LTIP) is similar to a mutual fund and includes both domestic and global investments. All securities are handled by outside managers. Funds invested in the LTIP include true endowments, funds functioning as endowments, and other funds that are not expected to be spent for at least three years. The objective of the pool is to produce a reasonable return coupled with capital appreciation.
The market value and market value per unit figures presented below are unaudited. LTIP transactions are processed each month using the unaudited unit value. At year end, if a significant fluctuation occurs between estimated and actual market values, a separate, audited, market value and unit value will be reported for June 30. If the audited and unaudited unit values differ, LTIP transactions will not be adjusted.
The audited unit value will impact market values for reporting purposes only.
| Month Ending | Market Value Per Unit | Market Value | Permanent Shares |
|---|---|---|---|
| July 2009 | $45.80119 | $3,858,294,534 | 84,240,058 |
| August 2009 | $46.03052 | $3,882,710,570 |
84,350,793 |
| September 2009 | $46.65304 | $3,938,804,556 |
84,427,616 |
| October 2009 | $46.78092 |
$3,956,917,438 |
84,583,997 |
| November 2009 | |||
| December 2009 | |||
| January 2010 | |||
| February 2010 | |||
| March 2010 | |||
| April 2010 | |||
| May 2010 | |||
| June 2010 |
The payout for the Long-Term Investment Pool (LTIP) is set annually by the Board of Trustees based on a payout policy adopted in 1998-1999.
Beginning in July 2004 (FY 2005), LTIP payout posts monthly based on one-twelfth of the annual payout and an account's beginning-of-month permanent share position.
| Fiscal Year | Payout Rate |
|---|---|
| FY 2010 |
$2.55 |
