Harvard University's endowment returned 21.4% on its investments for the fiscal year ended June 30, helping increase its assets to $32 billion, according to a Harvard news release.
The endowment has earned an average 12.9% annualized over the past 20 years.
“We are committed to our stance as long-term investors, refining our edge and maintaining our discipline, through up and down markets,” Jane Mendillo, president and CEO of Harvard Management Co., which manages the endowment's assets, said in the release.
According to a report from Harvard, the endowment's public equities portfolio was the best-performing asset class with a 28.3% return for the fiscal year, followed by private equity, 26.2%; real assets, about 18%; absolute return, 11.6%; and fixed income, 9.1%.
John Longbrake, Harvard spokesman, could not be reached for further details.