University of South Carolina Foundations manages an endowment fund based in Columbia, South Carolina. The mission of foundations is to support the University of South Carolina in all of its educational, research, instructional, scientific, literary, service, charitable, and outreach endeavors. The University of South Carolina Educational Foundation and the University of South Carolina Development Foundation are non-profit corporations and are together known as University Foundations. The assets are managed by the Joint Foundations Investment Committee.University of South Carolina Foundation's investment portfolio is valued at over $583.84 million with investments in domestic and foreign equities, fixed income, hedge funds, and private equity. The fund's investment portfolio return for 1 year, 3 years, 5 years, 7 years and 10 years, is 1.7%, 9.2%, 6.2%, 8.5% and 11.3% compared to the Target Weighted Index of 3.8%, 9.2%, 6.7%, 8.8% and 11.7%, respectively.