Permanent University Fund (PUF)

PUF is a public endowment derived from sources such as state iron ore taxes, royalties, and federal land grants. By legislative mandate, PUF assets are used to match private contributions with the goal of providing substantial financial support for endowed chairs and professorships throughout the University. All PUF endowments are true endowments and as such the original principal may never be spent. These endowments are invested in CEF and subject to the same policies.