Colleges in Oxford and Cambridge have invested in property, bonds, and equity-like assets including private equity; they also own original works of art, rare books, vintage wine, and other such assets that would typically have been bequeathed to them. The range of assets may not have been significantly enlarged recently, but financial innovation has created more options whereby traditional assets can be accessed in a more efficient manner. This chapter examines issues that relate to overall asset allocation, primarily because it is this that shapes the individual portfolio.
Keywords: Oxford, Cambridge, asset allocation, investment portfolio, endowments