The University of Texas/Texas A&M Investment Management Company (UTIMCO) has agreed to invest $15 million to the Texas McCombs Longhorn Fund, now called “Texas McCombs Investment Advisers, LLC,” and The Reveille Fund at Texas A&M Mays Business School. The Funds are actively-managed domestic equity funds benchmarked to the S&P 500. Operated by business students, it enables the business schools to continue providing unique experiential learning opportunities, continued investment education, financial research and practice for its students.
Created in March 1996, UTIMCO is the first external investment corporation formed by a public university system and manages investments for The University of Texas and Texas A&M Systems.
“UTIMCO is excited to support the student investment funds at the McCombs and Mays business schools and help give top students the opportunity to learn in a controlled and mentor-led setting and to receive exposure to real-world investment management processes,” said Britt Harris, UTIMCO president and CEO.
In addition to the financial investment, UTIMCO plans to strengthen its active involvement with both schools. Its leadership team will meet regularly with students to review portfolios, discuss performance, and opine on market conditions. UTIMCO will also facilitate meetings with the top external investment managers in the country.
“It is exciting that the discussions that President Jay Hartzell initiated more than one year ago have been fruitful,” says Clemens Siam, professor of finance and director of the AIM Investment Center. “This collaboration with UTIMCO will ensure that this path-breaking program that was founded by Keith Brown and George Gau more than 25 years ago will continue to enhance the educational experience of our MBA students.”
“Right now is a great time to matriculate at the top schools in Texas, especially in finance,” shared Sorin Sorescu, professor of finance and interim executive associate dean for Mays Business School. “Students receiving education in the classroom and in trading room scenarios paves the way for them to advance the world’s prosperity, our vision at Mays Business School.”
Texas McCombs Investment Advisers, LLC will initially manage $7.5 million in its Longhorn Portfolio and $7.0 million in its Endowment Portfolio. The Endowment Portfolio manages assets for the AIM Investment Center, the Business School Foundation, and several scholarships.
The Reveille Fund at Texas A&M University will complement The Tanner Fund, which started in 2000 with a $250,000 gift from Jamey and Richard Tanner ’53. The fund has grown over the past two decades and currently has around $920,000 in portfolio. It has been a student-run portfolio under Jene Tebeaux’ leadership for the entire duration.
About the McCombs School of Business at The University of Texas at Austin
Texas McCombs is a premier business school at a world-class public research university. We are a community that fosters lifelong engagement with our students and alumni. We cultivate principled leaders and develop ideas that will advance our economy, improve lives, strengthen our communities, and create new knowledge for future generations. Through high-quality instruction, experiential learning, and the pursuit of relevant, groundbreaking research, we are shaping those who will shape tomorrow and solve our most challenging problems.
About Mays Business School at Texas A&M University
At Mays Business School, our vision is to advance the world’s prosperity. Our mission is to be a vibrant learning organization that creates impactful knowledge and develops transformational leaders. Mays Business School educates more than 6,400 undergraduate, masters, and doctoral students in accounting, finance, management, management information systems, marketing, and supply chain management. Mays consistently ranks among the top public business schools for its programs and faculty research.
