1999 PUF Detailed Schedule of Investments
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PERMANENT UNIVERSITY FUND DETAIL SCHEDULES OF INVESTMENT SECURITIES Year Ended August 31, 1999 Deloitte & Touche LLP Telephone (713) 982-2000 Suite 2300 Facsimile: (713) 982-2001 333 Clay Street Houston, Texas 77002-4196 INDEPENDENT AUDITORS’ REPORT To the Board of Directors The University of Texas Investment Management Company Austin, Texas We have audited, in accordance with generally accepted auditing standards, the financial statements of the Permanent University Fund (PUF) for the year ended August 31, 1999, and have issued our report thereon dated October 29, 1999. We have also audited the accompanying schedules of debt securities (Schedule A), preferred stocks and convertible debentures (Schedule B), equity securities (Schedule C), cash and cash equivalents (Schedule D), Equity Index Fund B Lendable (Schedule E) and Mid Cap Index Fund B Lendable (Schedule F) as of August 31, 1999. These schedules are the responsibility of the PUF’s management. Our responsibility is to express an opinion on these schedules based on our audit. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the schedules referred to above are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the schedules. Our procedures included confirmation of securities owned as of August 31, 1999, by correspondence with the custodian. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall schedule presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, such schedules present fairly, in all material respects, the PUF’s par value, shares, cost and value of investments as shown in the accompanying Schedules A through F as of August 31, 1999, in conformity with generally accepted accounting principles. October 29, 1999 PERMANENT UNIVERSITY FUND SCHEDULE A DEBT SECURITIES August 31, 1999 PAR VALUE VALUE COST SECURITY ($) ($) U.S. GOVERNMENT OBLIGATIONS (DIRECT AND GUARANTEED) DIRECT OBLIGATIONS SYNTHETIC O-T-R TREASURY RECEIPT 94-3 6% CUSTODY RECEIPT DUE 8/15/11....................................................... 10,000,000 9,157,800 9,656,708 UNITED STATES TREASURY 0% STRIPS (CPNS) DUE 11/15/11............................................................. 23,000,000 10,499,500 8,109,071 0% STRIPS (CPNS) DUE 5/15/10............................................................... 10,000,000 5,053,000 4,166,665 5.875% NOTES DUE 11/15/99..................................................................... 2,000,000 2,002,820 1,998,844 6.25% NOTES DUE 2/15/03......................................................................... 5,000,000 5,046,850 5,018,477 6.25% BONDS DUE 8/15/23........................................................................ 18,000,000 17,665,380 18,156,889 6.75% BONDS DUE 8/15/26........................................................................ 10,000,000 10,464,100 10,975,677 6.875% BONDS DUE 8/15/25...................................................................... 94,000,000 99,610,860 104,895,749 7.125% BONDS DUE 2/15/23...................................................................... 12,000,000 12,991,920 13,667,439 7.25% BONDS DUE 5/15/16........................................................................ 8,000,000 8,620,000 7,930,849 7.25% BONDS DUE 8/15/22........................................................................ 30,000,000 32,887,500 30,205,207 7.5% BONDS DUE 11/15/16........................................................................ 18,000,000 19,859,040 17,563,565 7.5% NOTES DUE 11/15/01......................................................................... 8,800,000 9,106,592 8,847,935 7.75% NOTES DUE 2/15/01......................................................................... 13,000,000 13,365,560 12,954,358 7.875% BONDS DUE 2/15/21...................................................................... 49,200,000 57,064,128 63,304,587 8% NOTES DUE 5/15/01.............................................................................. 12,000,000 12,429,360 11,974,793 8.125% BONDS DUE 8/15/19...................................................................... 36,500,000 43,098,470 41,621,914 8.25% BONDS DUE 5/15/05........................................................................ 5,000,000 5,078,100 4,968,491 8.5% NOTES DUE 11/15/00......................................................................... 2,100,000 2,168,901 2,098,968 8.5% NOTES DUE 2/15/00........................................................................... 2,000,000 2,027,820 1,999,477 8.75% NOTES DUE 8/15/00......................................................................... 9,000,000 9,261,540 8,991,266 8.875% BONDS DUE 2/15/19...................................................................... 5,000,000 6,297,650 5,732,487 9.125% BONDS DUE 5/15/09...................................................................... 1,500,000 1,669,920 1,486,395 9.125% BONDS DUE 5/15/18...................................................................... 8,000,000 10,251,280 9,359,553 10.75% BONDS DUE 2/15/03...................................................................... 7,000,000 8,010,590 6,925,606 11.125% BONDS DUE 8/15/03.................................................................... 5,000,000 5,871,100 4,983,881 15.75% BONDS DUE 11/15/01.................................................................... 14,000,000 16,832,760 13,972,522 TOTAL DIRECT OBLIGATIONS 436,392,541 431,567,373 GUARANTEED OBLIGATIONS FARMERS HOME ADMINISTRATION 9% C B O DUE 11/3/99................................................................................. 5,000,000 5,029,750 5,000,000 FONDS D EQUIPMENT A.I.D. MOROCCO 7.29% NOTES DUE 5/1/23........................................................................... 9,000,000 9,131,220 8,892,310 GOVERNMENT BACKED TRUST 9.625% CERTIFS CL T-3 DUE 5/15/02....................................................... 3,650,964 3,774,002 3,649,110 TOTAL GUARANTEED OBLIGATIONS 17,934,972 17,541,420 GUARANTEED OBLIGATIONS - MORTGAGE BACKED GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 7% PASS THRU 1212 DUE 6/20/23............................................................ 2,576,094 2,489,975 2,570,393 7% PASS THRU 2084 DUE 9/15/02............................................................ 61,224 60,697 61,058 8% PASS THRU 194952 DUE 1/15/02........................................................ 26,388 26,663 26,385 8% PASS THRU 182539 DUE 1/15/02........................................................ 64,003 64,670 63,997 2 PERMANENT UNIVERSITY FUND SCHEDULE A DEBT SECURITIES (CONTINUED) August 31, 1999 PAR VALUE VALUE COST SECURITY ($) ($) 8% PASS THRU 183691 DUE 1/15/02........................................................ 46,418 46,902 46,413 8% PASS THRU 189914 DUE 1/15/02........................................................ 96,526 97,531 96,515 8% PASS THRU 206065 DUE 1/15/02........................................................ 71,839 72,587 71,831 8% PASS THRU 201307 DUE 3/15/02........................................................ 333,319 336,793 333,095 8% PASS THRU 16676 DUE 4/15/07.......................................................... 710,290 722,635 708,241 8.25% PASS THRU 9806 DUE 5/15/06....................................................... 18,230 18,691 18,224 8.25% PASS THRU 10770 DUE 5/15/06..................................................... 61,043 62,368 60,350 8.25% PASS THRU 8790 DUE 4/15/06....................................................... 25,744 26,396 25,737 8.25% PASS THRU 9675 DUE 4/15/06....................................................... 48,620 49,851 48,592 8.25% PASS THRU 9813 DUE 4/15/06....................................................... 22,656 23,148 22,643 8.25% PASS THRU 10215 DUE 6/15/06..................................................... 46,940 48,128 46,927 8.25% PASS THRU 9323 DUE 6/15/06....................................................... 90,842 93,142 90,617 8.25% PASS THRU 10834 DUE 6/15/06..................................................... 26,546 27,219 26,530 9% PASS THRU 152730 DUE 6/15/01........................................................ 123,715 125,673 123,635 9% PASS THRU 139698 DUE 8/15/01........................................................ 279,050 283,468 278,291 9.5% PASS THRU 290652 DUE 8/15/20..................................................... 263,043 280,172 261,604 10% PASS THRU 151185 DUE 3/15/16...................................................... 287,072 312,521 282,638 10% PASS THRU 233778 DUE 2/15/18...................................................... 269,080 293,970 267,667 10% PASS THRU 252468 DUE 6/15/19...................................................... 196,535 214,715 195,209 10% PASS THRU 291147 DUE 5/15/20...................................................... 196,289 214,445 196,289 10.5% PASS THRU 224630 DUE 10/15/17................................................. 243,494 268,452 234,293 11% PASS THRU 35288 DUE 3/15/10........................................................ 121,436 133,712 120,454 11.5% PASS THRU 131670 DUE 5/15/15................................................... 31,875 35,840 31,722 12% PASS THRU 49551 DUE 7/15/11........................................................ 87,312 98,402 74,638 12.5% PASS THRU