A permanent investment in the future of a university. Endowed funds are invested, rather than used as cash for immediate needs. A portion of the earnings from an endowment is distributed to the university. The remainder is added back into principal, ensuring steady growth of the endowment.

Permanent University Fund (PUF)

A public endowment contributing to the support of The University of Texas System (excludes UTB and UTPA) and select institutions of The Texas A&M University System. The PUF was established in the Texas Constitution of 1876. Find out more about the PUF.

Permanent Health Fund (PHF)

An internal UT System mutual fund for the pooled investment of state endowment funds for health-related institutions of higher education. These endowments were created, effective August 30, 1999, by the Texas Legislature and funded with proceeds from state tobacco litigation. Find out more about the PHF.


The University of Texas Investment Management Company. A 501(c)(3) corporation that was contracted by the UT System Board of Regents to invest funds under its fiduciary control. It is the first investment corporation formed by a public university system and oversees investments in the PUF and other assets. Find out more about UTIMCO.


Endowment Totals
Totals include endowment funds managed by UTIMCO as well as those held in trust by other entities. Endowment totals for UT Austin include 30 percent of the PUF market value and endowments for the UT System include 37 percent of the PUF market value. Endowment values for UT System Administration exclude the PHF, which is reported by the institutions.


UT Institution Reports to the Council for Aid to Education; UT System Office of External Relations