Princeton University returned 12.5% on its endowment for the fiscal year ended June 30, the university announced in a news release Monday.
Endowment assets increased about 7.2%, or $1.6 billion, over the year to $23.8 billion.
The average annual return for the Princeton, N.J.-based endowment for the 10 years ended June 30 was 7.1%, the release said.
The news release did not disclose benchmark returns or a breakout of asset class returns. Last fiscal year, the endowment returned 0.8%.
The endowment is managed by the Princeton University Investment Co. According to PRINCO's website, the endowment has a target asset allocation of 25% each independent return (hedge funds) and private equity, 19% real assets, 10% each U.S. equity and international emerging markets equity, 6% international developed equity, and 5% fixed income and cash.
A university spokesman could not immediately be reached for additional information.