New York University (NYU) manages an endowment fund that is based in New York, New York. The endowment fund provides a permanent source of capital and support to the university's mission and programs. The objective of the Endowment is to support NYU students and faculty equally in the present and in the future, by providing current financial support to the University's operating budget while also preserving the Fund's long-term purchasing power. The endowment is managed by a professional investment staff within the NYU investment office. It is invested globally across a diverse range of strategies using external managers. The investment office manages Endowment Fund in accordance with the investment policy adopted by the Board of Trustees.