section_path: Governance and structure/Finances and endowment
section_name: Finances and endowment
paragraph_text: Finances and endowment
  
  The University of Melbourne has an endowment of approximately $1.335 billion. The university's endowments recovered after hardship following the 2008 Great Recession, which shrank its investments by 22%. This required restructuring of the university, including cutting 220 full-time positions. A further round of cuts, driven by lingering concerns about finances and declining Federal contributions to the tertiary sector, took place under the 'Business Improvement Program' from 2014 to 2016 and resulted in the cutting of 500 jobs.
  
  Under former vice-chancellor Glyn Davis, the university publicly launched a fundraising campaign titled Believe in 2013. The campaign raised $500 million by 2016 and sought to raise a further $1 billion by 2021.