 For the 2015/16 academic year, UCL was allocated a total of £171.37 million for teaching and research from the Higher Education Funding Council for England (HEFCE), the highest amount allocated to any English university, of which £39.76 million is for teaching and £131.61 million is for research.According to a survey published by the Sutton Trust, UCL had the eighth-largest endowment of any British university in 2012.UCL launched a 10-year, £300 million fundraising appeal in October 2004, at the time the largest appeal target set by a university in the United Kingdom.