Yale’s 21.9 percent endowment return in fiscal year 2011 not only bested most of its Ivy League peers, but is also on track to top the national average.
Colleges and universities nationwide returned an average of 19.8 percent on their investments in the fiscal year that ended June 30, according to a preliminary study of 284 institutions released Monday by the National Association of College and University Business Offices (NACUBO) and the Commonfund Institute, a nonprofit consulting firm. Yale’s 8.9 percent return lagged behind the national average of 11.9 percent in fiscal year 2010, but the University’s performance surpassed this year’s average.
The University’s non-traditional investment strategy, pioneered by Chief of the Investment Office David Swensen, focuses on illiquid assets such as gas, oil, timber and real estate, but also makes use of long-term assets more readily converted to cash. University President Richard Levin said in a Monday email that Yale’s improved endowment performance with respect to the national average can be attributed to a more typical year for markets. Yale’s endowment “underperformed” in fiscal year 2010, Levin said, because illiquid assets such as private equity and real estate did not keep up with public markets…
Find out more at http://www.yaledailynews.com/news/2011/nov/08/yale-returns-likely-to-top-national-average/
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