Invested Funds (IF)


The IF is an investment pool consisting of the University’s operating funds.

Campus depositors have access to their funds upon demand with Central Administration assuming all market risk for the underlying investment strategies.

The University of Washington Investment Management Company (UWINCO) manages the IF.


The overall financial objective of the IF is to enable the University to meet its financial obligations as they come due. A secondary objective is to achieve investment returns above those of money market instruments.


Investment income provides an important source of financial support to the campus community. Distributions are made annually at the end of each fiscal year.

Annual Distribution Rates and Total Return
Year Campus Depositors (limited) Advancement Rate IF Total Return 
FY22 0.75% 3.00% -3.40%
FY21 0.75% 3.00% 7.84%
FY20 0.75% 3.00% 3.11%
FY19 0.75% 3.00% 4.41%
FY18 0.75% 3.00% 3.21%
FY17 1.00% 3.00% 3.70%
FY16 2.00% 3.00% 1.00%
FY15 2.00% 3.00% 2.70%
FY14 2.00% 3.00% 5.00%
FY13 2.00% 3.00% 3.30%
FY12 2.00% 3.00% 1.88%
FY11 2.00% 3.00% 5.50%
FY10 2.00% 3.00% 6.30%



The IF is divided into four pools:

Pool Allocation Objective Investment strategy
Short-term Pool Meet day-to-day obligations High quality short to intermediate term fixed income securities
Intermediate-term Pool Provide a secondary liquid source of funds High quality intermediate term fixed income securities
Long-term Pool Increase returns and provide diversification Direct investment in the UW's Consolidated Endowment Fund
Capital Assets Pool (CAP) Provide a source of funds for capital projects Invested in UW capital projects


Investment Performance

Details of the IF’s investment performance are available in the Quarterly Investment Performance Report



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