Transfer from OUP cash reserves to endowment

A transfer has been made from the reserves of Oxford University Press to the University of Oxford's permanent endowment in order to generate some additional annual income in endowment returns. Oxford University Press (OUP), a department of the University of Oxford, has transferred approximately £200m to the University's permanent endowment. Having the funds in the endowment instead of OUP's cash reserves is likely to generate approximately £7m per year in income for the University (whose annual turnover is approximately £900m, excluding OUP). The transfer is accompanied by a borrowing facility so that there is no impact on OUP's operations or ability to invest for future growth. The additional endowment income will be available to support core activities such as teaching, which the University is currently subsidising by £80m a year. At end July 2010 the University's endowment was around £629m and the colleges' combined endowments were around £2.7 billion. Most of the University endowment is managed by Oxford University Endowment Management, a wholly owned subsidiary of the University that provides investment management services to the University, its colleges and related entities.