MIchigan endowment earns 19.1% on investments

University of Michigan, Ann Arbor, had a 19.1% investment return on its endowment for its fiscal year ended June 30, according to a press release. The fund — the 11th largest endowment among U.S. universities — had $7 billion in assets, up $900 million from the prior year, according to the release. The assets are primarily invested in equities, absolute-return strategies, real estate, venture capital, private equity and energy strategies, according to the release. Spokeswoman Julie Peterson could not be immediately reached for further details.