Princeton endowment's returns roar

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Blair Arch on the campus of Princeton University

Princeton University's endowment posted a 21.9% return on investments for the fiscal year ended June 30, up from a 14.7% return a year earlier, according to the university's website.

The $17.1 billion endowment's average annualized 10-year return is 9.8%, the website said.

Assets climbed 18.8% during the fiscal year, according to the website.

The fiscal year 2011 results “represented a period of continuing recovery for the endowment,” the website said.

Princeton University Investment Co., which manages the Princeton, N.J.-based endowment, will certify the results at its directors' meeting on Oct. 20, the website said.

University spokesman Martin Mbugua a declined to provide details about the endowment's performance or investments.