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The University Bylaws provide that one of the general powers of the Board of Trustees is to oversee the management of the University's Endowment and investments. The Investment Committee is responsible for approving and recommending to the Board general guidelines for the management of the University's Endowment and investments.

Because sound endowment management policy suggests a clear separation between certain functions such as asset allocation decisions and the establishment of an endowment spending policy, the Investment Committee has been vested with particular responsibilities related to the management of the University's Endowment.

The Investment Committee is broadly responsible for the fiduciary oversight of the Investment Office, recommending investment policy guidelines for the Endowment including asset allocation targets and ranges, and monitoring conformance.

The Investment Office is responsible for the day-to-day operations of the investment program, which includes hiring, monitoring and terminating investment managers.