Context: The College's endowment is sub-divided into three distinct portfolios: (i) Unitised Scheme – a unit trust vehicle for College, Faculties and Departments to invest endowments and unfettered income to produce returns for the long term; (ii) Non-Core Property – a portfolio containing around 120 operational and developmental properties which College has determined are not core to the academic mission; and (iii) Strategic Asset Investments – containing College’s shareholding in Imperial Innovations and other restricted equity holdings. During the year 2014/15, the market value of the endowment increased by £78 million (18%) to £512.4 million on 31 July 2015.

Question: The 120 operational and developmental properties within the college that are not core to the academic mission belong to which portfolio?

Answer: Non-Core Property