Propose an Optimum Stocks Portfolio Using Markowitz Modern Portfolio Theory in Educational Endowment Fund Management (Case Study of XYZ Institution)

XYZ institution is a Public Service Agency in Educational Sector, focused on giving the scholarship master and doctoral programs level domestically abroad, also many affiliated researchers funding programs. The effect of granting scholarships research produces an extraordinary output for country. It was successfully increased quality education Indonesian society, with Human Development Index. With great accumulated amount asset under management fiscal year 2023, have really big opportunity to maximize investment return give all Indonesia’s citizens equal chance pursuing higher education. Markowitz Modern Portfolio Theory (MPT) utilized construct optimal stocks portfolio institution. proposed seeks find combination between high-growth that potential increase value stable dividend-paying provide income stability. goal overall returns while taking its risk tolerance investing objectives into consideration. Diversification done by diverse range companies across sectors classes, reducing exposure single risk. optimum provides diversified allocation assets, consisting portion Time Deposits at 36,68%, Government Bonds 34,10%, Corporate 27,21%, Stocks 2%, which constructed form Aggressive Strategy, Moderate Defensive Strategy. selection resulting best five composition Strategy consist BBNI 20,17%, BJBR 19,54%, PTBA 20,15%, ADRO 19,67%, INDF 20,47%, projected could contribution 6,60% lowest given 26,83% from generate 7,15% return.