UNC Management Company, Inc. was established on January 1, 2003, and from its inception has been an organization exempt from taxation under Section 501(c)(3) of the Internal Revenue Code. It is a professionally staffed asset management company created to provide investment services to The University of North Carolina at Chapel Hill ("UNC at Chapel Hill"), to The University of North Carolina and its other constituent institutions, and to affiliated foundations and endowments that support UNC at Chapel Hill or other constituent institutions of The University of North Carolina. The Management Company is the manager of UNC Investment Fund, LLC.
With approximately 30 employees, UNCMC has four primary teams: the Investment Management Team, the Investor Relations and Communications Team, the Investment Compliance and Legal Affairs Team and the Investment Operations and Finance Team. The Investment Management Team is responsible for the oversight and management of the external investment management firms that are utilized by UNCIF to invest the assets in the UNCIF investment portfolio. The Investment team’s responsibilities include evaluating and monitoring investment managers, recommending changes to investment objectives and asset allocation, and implementation of investment decisions authorized by the Board of Directors of CHIF, the controlling member of UNCIF.
The Investor Relations and Communications Team is responsible for interaction with the members and managing corporate communications. Effective March 1, 2013, the Investment Compliance and Legal Affairs Team was organized to respond to the evolving and complex regulatory environment. This team is responsible for management and oversight of legal activities related to the external investment managers and UNCIF as well as managing regulatory compliance and corporate governance for UNCIF and UNCMC. The Investment Operations & Finance Team performs administrative, accounting and performance reporting duties related to UNCIF and UNCMC.
Investment compliance functions are overseen by an internal UNCMC Compliance Committee comprised of a cross-section of UNCMC employees with the Director of Investment Compliance and Legal Affairs serving as its chair. A charter for the Compliance Committee was formalized in May 2013. The Compliance Committee typically meets quarterly.
The Management Company is governed by a Board of Directors consisting of eight members. The Chancellor, Vice Chancellor for Finance & Administration, and Chairman of the Board of Trustees of The University of North Carolina at Chapel Hill, the chairman of the Board of Directors of The University of North Carolina at Chapel Hill Foundation Investment Fund, Inc., and the chief executive officer of the Management Company serve as ex officio members of the Board. The remaining three members of the Board are elected by the ex officio members.