Wednesday, September 28, 2011

Yale’s Swenson Beat Harvard: Endowment Returned 22%

According to Bloomberg Yale University, whose endowment strategy has been a model for U.S. schools, said its investments returned 22 percent in the past fiscal year, helped by foreign stocks and private-equity gains.

The endowment’s value rose to $19.4 billion as of June 30, from $16.7 billion a year earlier, according to an e-mail today from spokesman Tom Conroy. That amount includes investment gains of $3.6 billion and distributions of $1 billion to the New Haven, Connecticut, university.

Yale, the second-richest school after Harvard University of Cambridge, Massachusetts, said foreign stocks beat benchmarks and its private-equity and real-asset investments rebounded. The school trailed its Ivy League rivals last year after a second straight year of losses on real estate, timber and oil and gas holdings.

Yale’s 22 percent gain is the best of the Ivy League schools that have reported results so far. The group consists of eight selective private schools in the northeastern U.S. Harvard, the world’s richest school, said Sept. 22 its investments rose 21 percent. The University of Pennsylvania in Philadelphia said Sept. 15 its fund gained 19 percent, helped by rising stock markets. Cornell University in Ithaca, New York, said today that its fund gained 20 percent...

There's more. Find out at http://www.businessweek.com/news/2011-09-28/yale-university-s-endowment-returned-22-in-year-ended-june.html

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