Brown University’s endowment, Providence, R.I., posted a return of 5.7% on investments for the year ended June 30, said university spokesman Mark Nickel.
The endowment had $3.3 billion in assets by the end of its fiscal year, up 3.1% from the year before.
Brown’s return exceeded both the preliminary return of its benchmark portfolio of 3.3% and Cambridge Associates’ preliminary mean and median returns for colleges and universities with endowments larger than $1 billion at 4% and 3.7%, respectively.
Brown’s endowment saw a three-year annualized return of 11.3%; five years, 10.5%; and 10 years, 7.5%.
As of June 30, the endowment’s asset allocation was 31% hedged strategies, 27% equities, 21% private equity, 8% real assets, 6% cash, 5% fixed income, and 2% equity-like credit.