St. Olaf College manages an endowment fund based in Northfield, Minnesota. The endowment fund provides various endowed funds and scholarship programs for the students. St. Olaf spends only a portion of the annual investment return in supporting the college's mission and operations so as to guard against diminishing funds caused by inflation, the remaining investment return is added back to the fund. The fund is administered and managed by the Board of Regents.St. Olaf College Endowment's investment portfolio is valued at $516.33 million, with investments in private equity, real estate, hedge funds, real assets, natural resources, publicly-traded equities, fixed income securities, and cash.