Follow us on Instagram
Try our daily mini crossword
Play our latest news quiz
Download our new app on iOS/Android!

Endowment grows to $18.2 billion

The University’s endowment returned 11.7 percent in fiscal year 2013, falling in line with other recently announced returns across the Ivy League. The total value of the endowment grew to $18.2 billion.

This year’s return surpassed the 3.1 percent gain in fiscal 2012, when the value of the endowment shrunk slightly since spending outpaced growth.

ADVERTISEMENT

The Friday announcement follows a Thursday meeting of the directors of the Princeton University Investment Company, which manages the endowment.

The double-digit gains reported by the University and its peers reflect increasingly bullish activity in foreign and domestic markets.

The Standard & Poor’s 500 index, a portfolio considered a broad indicator of market conditions, rose 17.9 percent between June 30, 2012 and June 30, 2013. In the same period, Harvard’s endowment posted an 11.3 percent return — the lowest return level of the Ivy League schools that have reported so far — while Yale and Dartmouth reported returns of 12.1 and 12.5 percent, respectively. Among the Ivy League, the University of Pennsylvania registered the largest gain at 14.4 percent.

 

ADVERTISEMENT