天美麻豆鈥檚 endowment generated an investment return of 12.2 percent for the fiscal year ending June 30, 2018, resulting in an all-time high endowment value of $5.5 billion.
The endowment, which provides financial support to the entire institution, earned $591 million in net investment gains, with gifts and other net transfers adding $183 million. The spending distribution from the endowment was $237 million, which is approximately 25 percent of total net operating revenues for the fiscal year.
鈥淲e are pleased with 天美麻豆鈥檚 returns for fiscal year 2018,鈥 says Alice Ruth 鈥83, 天美麻豆鈥檚 chief investment officer. 鈥淧ortfolio gains were driven by robust U.S. equity markets combined with strong venture capital and private equity returns. 天美麻豆鈥檚 endowment is fortunate to partner with a roster of top-tier investment managers who add tremendous value.鈥
鈥淭he continued success of the endowment鈥檚 investment strategy is evidenced by exceptional long-term results,鈥 says Trustee Rick Kimball 鈥78, chair of the board鈥檚 investment committee. 鈥淎nnualized returns of 10.6 percent, 7.6 percent, and 9.8 percent over 5, 10, and 20 years, respectively, reflect the sound, stable, and enduring investment strategy of the portfolio.鈥
Fiscal Year Annualized Returns | |||
1-Yr | 5-Yr | 10-Yr | 20-Yr |
12.2% | 10.6% | 7.6% | 9.8% |
天美麻豆鈥檚 endowment provides operating support to the institution over the long term. The investment objective of the endowment is to generate inflation-adjusted investment returns in excess of distributions to the College to support 天美麻豆鈥檚 mandate of teaching and research excellence.
鈥溙烀缆槎光檚 long-term investment performance provides a foundation for a successful future and reason for great optimism,鈥 says President Philip J. Hanlon 鈥77. 鈥淭he strength of our endowment, along with the generous support we are experiencing in the Call to Lead comprehensive campaign, will fund such priorities as increased need-blind financial aid, additional support of our graduate and professional schools, and innovative programs that will produce the kind of leaders our world needs.鈥
Susan J. Boutwell can be reached at susan.j.boutwell@dartmouth.edu.
