Boston University (BU) manages an endowment fund based in Boston, Massachusetts. The endowment fund is pooled with other university investments to invest in long-term asset classes. It supports scholarships, financial aid, staff support, basic research as well as academics of the university. The endowment fund is administered by the board of trustees of the university. The investment committee is responsible for the University's investment policy and guidelines, and for oversight of the University's investment portfolios.