Arizona State University Foundation (ASU Foundation) manages an endowment fund which is based in Tempe, Arizona. The foundation was established in 1955 to meet the demands of Arizona State University (ASU). The foundation is committed to supporting and assisting ASU in achieving its goals through raising, investing and managing private gifts, initiating entrepreneurial activities and serving as an advisor to the University President. The foundation invests the funds that it holds for the university under the direction of the investment committee of the foundation's board of directors and under the management of an Outsourced Chief Investment Officer.Arizona State University Foundation's investment portfolio is valued at over $922 million, with investments in domestic and international equities, fixed income, private equity, hedge funds, and cash. The endowment 's investment portfolio return for 1 year, 3 years, 5 years, 10 years, and 15 years is 10.20%, 9.94%, 5.05%, 7.95%, and 6.85%.