Princeton endowment posts nearly 15% rise

Princeton University’s endowment earned nearly 15% for the year ended June 30, besting returns at some Ivy League rivals, the school said Friday, according to The Wall Street Journal. Princeton’s return outperformed both Yale University and Harvard University in the same period, at 8.9% and 11%, respectively. It also outpaced the 13% increase that investment-consulting firm Wilshire Associates reported was the median return of other large endowments, pension funds and foundations. The returns on Princeton’s $14.4 billion endowment, one of the nation’s largest, still trailed the Dow Jones Industrial Average, which rose 19% in the same period. In a statement, Princeton Provost Christopher Eisgruber said the endowment’s performance, combined with recent school budget cuts, has prevented the need for additional cuts in school spending. Princeton’s performance, released Friday, is a big turnaround from the previous year, when the endowment posted an investment loss of 24%.

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