The simple answer: It's the acronym for University of Texas Investment Management Company, a nonprofit company with a single client, the University of Texas System (and, to a lesser extent, the Texas A&M University System). With the universities it serves under pressure not to hike tuition rates even though fewer state dollars are flowing their way, the company's performance will be under intense scrutiny this session — and UTIMCO officials are still recovering from last session's showdown over their generous bonuses. To explain all this for us, we called in an expert: CEO Bruce Zimmerman.Full Story
The University of Texas Investment Management Company (UTIMCO) oversees the assets of both the University of Texas and Texas A&M Systems.
The company was created in 1996 by the University of Texas System Board of Regents. The UT System chancellor, three regents and five outside directors with investment backgrounds sit on the UTIMCO board of directors.
The directors are ...
Few members of the State Board of Education have finance expertise. Should we be concerned that they manage the investments of the $23 billion Permanent School Fund?Full Story