University of Chicago's 12.7% return pushes assets to new high

University of Chicago's endowment reached a new high — $7.5 billion — as of June 30, up 11.9% from the same date a year earlier.

Asset growth was buoyed by the 12.7% return of the endowment for the fiscal year ended June 30, said Steve Kloehn, a university spokesman. The 2014 return was nearly double the 6.6% return for the year ended June 30, 2013.

Annualized returns for the endowment were 12.6% for five years, 9.6% for 10-years and 11.2% for 20 years.

Mark Schmid, vice president and chief investment officer, said in a news release that $3.6 billion was added to the endowment through investment returns since the 2008-'09 financial crisis.

“We view investments as an important part of an integrated approach to the university's fiscal health,” Mr. Schmid said in the release. “Working closely with the board of trustees' investment committee and financial committee, as well as university leadership, we continue to believe this integrated approach will best support the university's mission in all types of market conditions on a long-term basis.”