Princeton University announced Friday its endowment returned 0.8% for the fiscal year ended June 30.
A university news release said the endowment's assets were $22.2 billion as of June 30, down 2.6%, or about $570 million, from the previous fiscal year.
The average annual return on the endowment for the past 10 years was 8.2%, the news release said. The Princeton University Investment Co., which manages the Princeton, N.J.-based endowment, will certify the results during a meeting of its directors Oct. 20, the news release said.
“We are grateful to PRINCO for achieving a positive return in a difficult year,” Provost David Lee said in the release. We are grateful to PRINCO for achieving a positive return in a difficult year," Provost David Lee said. "Even with the positive return, the overall value of the endowment declined because of the annual distributions we make to support the operating budget."
The news release did not provide benchmark returns or individual asset class performance.