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The University of Edinburgh

PRI reporting framework 2020

Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - HF 01]

Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Asset class implementation not reported in other modules [SG 16 - 17] Innovation [SG 18] Communication [SG 19]

Indirect – Manager Selection, Appointment and Monitoring

Listed Equity and Fixed Income Strategies [SAM 01] Selection [SAM 02 - 03] Appointment [SAM 04] Monitoring [SAM 05 - 07] Outputs and outcomes [SAM 08 - 09]

Direct - Property

Overview [PR 01] Pre-investment (selection) [PR 04 - 06] Selection, appointment and monitoring third-party property managers [PR 07] Post-investment (monitoring and active ownership) [PR 08 - 14] Overview [PR 08] Property monitoring and management [PR 09 - 10] Property developments and major renovations [PR 11] Occupier engagement [PR 12 - 13] Community engagement [PR 14] Outputs and outcomes [PR 15 - 16]

Confidence building measures

Confidence building measures [CM1 01 - 07]

Export Public Responses

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Basic information

OO 01. Signatory category and services

01.1. Select the type that best describes your organisation or the services you provide.

Non-corporate pension or superannuation or retirement or provident fund or plan

Corporate pension or superannuation or retirement or provident fund or plan

Insurance company

Foundation

Endowment

Development finance institution

Reserve - sovereign or government controlled fund

Family office

Other, specify

01.3. Additional information. [Optional]

Founded by the city of Edinburgh in 1583, we were the first true civic university in the UK and one of the four ancient universities of Scotland.

In September 2019 the University launched Strategy 2030.

Our Vision: Our graduates, and the knowledge we discover with our partners, make the world a better place.
Our Purpose: As a world-leading research-intensive University, we are here to address tomorrow’s greatest challenges. Between now and 2030 we will do that with a values-led approach to teaching, research and innovation, and through the strength of our relationships, both locally and globally.

This report is in relation to the University of Edinburgh 'Endowment and Investment Fund' which contains both endowment and treasury money (previously the Endowment Fund). For benchmarking and comparison purposes we have classified this fund as 'Endowment' within the PRI reporting.

For detailed information about the University visit www.ed.ac.uk and for information on its investments see: http://www.ed.ac.uk/finance/about/sections/financial-accounting/investment

OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

United Kingdom

02.2. Indicate the number of countries in which you have offices (including your headquarters).

2-5

6-10

>10

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

10722.61 FTE

02.4. Additional information. [Optional]

Staff numbers refers to University staff (expressed as average full time equivalents during the year). See https://www.ed.ac.uk/human-resources/about/facts-figures

OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

Yes

03.3. Additional information. [Optional]

OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/07/2019

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2

Total AUM
Total AUM	trillions	billions	millions	thousands	hundreds
Currency
Assets in USD
Assets in USD	trillions	billions	millions	thousands	hundreds

Not applicable as we are in the fund-raising process

04.5. Additional information. [Optional]

For details, see page 69 of the University's Annual Report and Accounts.

https://www.ed.ac.uk/files/atoms/files/201908_uoe_annual_accounts_2019_29_online.pdf

OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

as percentage breakdown

as broad ranges

	Internally managed (%)	Externally managed (%)
Listed equity	0 0	10-50% 44.377
Fixed income	0 0	10-50% 32.852
Private equity	0 0	<10% 0.44
Property	<10% 5	<10% 9.8974
Infrastructure	0 0	0 0
Commodities	0 0	0 0
Hedge funds	0 0	0 0
Fund of hedge funds	0 0	0 0
Forestry	0 0	0 0
Farmland	0 0	0 0
Inclusive finance	0 0	<10% 0.1
Cash	<10% 0.4	<10% 0.51
Money market instruments	0 0	0 0
Other (1), specify	0 0	<10% 4.904
Other (2), specify	<10% 1.45	<10% 0.101

`Other (1)` specified

`Other (2)` specified

          This includes: Edinburgh University Press; Edinburgh Technology Fund; Old College Capital + OCC Epidarex

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

Yes

06.5. Indicate whether your organisation uses fiduciary managers.

Yes, we use a fiduciary manager and our response to OO 5.1 is reflective of their management of our assets.

No, we do not use fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]

The purpose of the Investment Committee (as outlined in the Terms of Reference https://www.ed.ac.uk/finance/about/sections/financial-information-reporting-strategy-team/investments-and-endowments/investment-committee) is: to consider the corporate governance, University reputation and other related implications of the University's investments, in particular to consider strategic formulation and risk containment and to review and monitor both long and short-term investments.

The objectives are to: manage the investment portfolio asset allocations to: A financial return for the portfolio that exceeds CPI + 4%, net of fees, over the medium term (3-5 years), with dividend yield targeting budgets agreed with the University; Implement restrictions that reflects University policies (e.g. tobacco, arms, fossil fuels, anti-slavery, conflict minerals); Make a positive contribution to environmental and social impact through wherever possible investing in ESG (Environmental, Social & Governance) compliant funds and considering investment in other assets that deliver financial and non-financial benefits; Ensure an appropriate proportion of the funds invested can be realised quickly if required.

OO 07. Fixed income AUM breakdown

07.1. Provide to the nearest 5% the percentage breakdown of your Fixed Income AUM at the end of your reporting year, using the following categories.

Externally managed

4.41 SSA

10.21 Corporate (financial)

1.33 Corporate (non-financial)

84.06 Securitised

Total 100.01%

OO 08. Segregated mandates or pooled funds

New selection options have been added to this indicator. Please review your prefilled responses carefully.

Provide a breakdown of your organisation’s externally managed assets between segregated mandates and pooled funds or investments.

Asset class breakdown	Segregated mandate(s)	Pooled fund(s) or pooled investment(s)	Total of the asset class (each row adds up to 100%)
[a] Listed equity	0% <10% 10-50% >50 %	0% <10% 10-50% >50 %	100%
[b] Fixed income - SSA	0% <10% 10-50% >50 %	0% <10% 10-50% >50 %	100%
[c] Fixed income – Corporate (financial)	0% <10% 10-50% >50 %	0% <10% 10-50% >50 %	100%
[d] Fixed income – Corporate (non-financial)	0% <10% 10-50% >50 %	0% <10% 10-50% >50 %	100%
[e] Fixed income – Securitised	0% <10% 10-50% >50 %	0% <10% 10-50% >50 %	100%
[f] Private equity	0% <10% 10-50% >50 %	0% <10% 10-50% >50 %	100%
[g] Property	0% <10% 10-50% >50 %	0% <10% 10-50% >50 %	100%
[m] Inclusive finance	0% <10% 10-50% >50 %	0% <10% 10-50% >50 %	100%
[n] Cash	0% <10% 10-50% >50 %	0% <10% 10-50% >50 %	100%
[p] Other (1), specify	0% <10% 10-50% >50 %	0% <10% 10-50% >50 %	100%
[q] Other (2), specify	0% <10% 10-50% >50 %	0% <10% 10-50% >50 %	100%

08.2. Additional information. [Optional]

OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

87.62 Developed Markets

12.38 Emerging Markets

0 Frontier Markets

0 Other Markets

Total 100% 100%

09.2. Additional information. [Optional]

Estimated in some areas.

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