The Rhodes College Endowment exists exclusively for the benefit of Rhodes College and is an important vehicle for developing and accepting private gifts to the College that will benefit future generations of students. The primary investment objective of the College is to maximize the financial return over the long term within an acceptable level of risk. Such a policy is mandated by prevailing law, tradition, and the legal concept of fiduciary responsibility for funds given to the College. A major function of the Endowment is to manage endowment gifts and to make distributions for the various projects, programs, scholarships, and other areas of interest for which the gifts were designated. To a substantial degree, the College’s ability to achieve its educational mission is dependent upon the performance of the investment portfolio.