Cash Oakland University by huanghengdong


									                                                                      Oakland University                                                                 ATTACHMENT A
                                                                  Cash and Investments Report
                                                                      November 30, 2006

                                                                                                                        Total Return                Benchmark
                                 Fair Market Value          Fair Market Value      Total Return     Benchmark           Qtr. Ending                 Qtr. Ending
                                November 30, 2005          November 30, 2006        for Month        for Month       September 30, 2006          September 30, 2006
        Pooled Cash
Munder Equity                           $11,535,415                $13,607,297           2.19%            2.35%                      4.62%                     5.55%
Munder Bonds                             44,967,011                 47,183,064           0.67%            0.65%                      2.23%                     2.44%
Money Market (Dreyfus)                   28,950,832                 38,377,978           0.41%            0.41%                      1.24%                     1.26%
 Pooled Cash Summary                    $85,453,258                $99,168,339           0.78%                                       2.18%

Invested Loan Proceeds                            $0               $11,008,751     Fund is invested to return a net of 4.69% during the construction period.

Multi-Strategy Equity Fund              $17,834,532                $24,976,839                                                       3.90%                     5.67%
Equity Index Fund (From OUF)                                        $4,780,072                                                       5.60%                     5.67%
Multi-Strategy Bond Fund                  6,358,416                 10,210,004                                                       3.20%                     3.81%
                                        $24,192,948                $39,966,915                                                       4.40%

Pooled cash is greater than the previous year as cash generated from operations (General, Designated, Auxiliary and Expendable Restricted Funds)
 was conservatively managed (e.g. hiring freeze), held in reserves and slowly spent on projects due to uncertainty with the State
 economic situation and appropriate funding levels. In addition, $2.7 million ESA Project funds in pooled cash are not yet expended.
Endowment is greater than the previous year primarily because investment earnings exceeded distributions, and the transfer of OUF Endowment funds
  to the University books and investment accounts. Transferred Foundation investments currently in the Equity Index Fund are being averaged into
  the equity and bond funds. Additions due to gifts for the 12-month period to OU Endowment funds amounted to $357,812.

Benchmarks for Investments are:
 For Munder Equity: Russell 1000 Value Index, Russell 1000 Growth, MSCI - EAFE International: (Relative Weighted)
 For Munder Bond Fund: Merrill Lynch Govt/Corp 1 - 5 Yr. A or Better Index
 For Dreyfus Money Market Fund: Lipper Institutional Money Market Fund Index
 For Commonfund Equities: S & P Index
 For Commonfund Bonds: Lehman Aggregate Bond Index
Benchmark Performance Comments:
 Pooled cash and endowment investment funds are all managed funds (not index funds) and are expected to exceed their benchmarks over time. They
   will not necessarily meet or exceed the benchmarks each month or each quarter.
 Pooled cash equity investments lagged their benchmark for the month and the quarter, but they exceeded the benchmark
      for the past fiscal year and have been gaining on the benchmark as expected.
 Pooled cash bond investments exceeded their benchmark for the month, but not the previous quarter. They exceeded their benchmarks for the previous fiscal year.
 Pooled cash money market investments equaled the benchmark for the month and were within 0.02% of the benchmark for the quarter.
 Endowment equity underperformed the benchmark for the previous quarter, but exceeded the benchmarks for the previous year by 2.45% (11.08% vs. 8.63%).
 The equity index fund performed nearly to the benchmark for the quarter.
 Endowment bonds underperformed the benchmark for the previous quarter, but exceeded the benchmark for the previous year by 2.17% (1.36% vs. -0.81%) .

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