Brown University's $6.9 billion endowment returned a net 51.5% for the fiscal year ended June 30, well exceeding its benchmark return of 43.1%, said university spokesman Brian Clark.
For the three, five and 10 years ended June 30, the endowment returned an annualized 24.1%, 19.6% and 12.9%, respectively. Benchmark figures were not provided.
The endowment had returned a net 12.1% for the fiscal year ended June 30, 2020.
A news release Thursday from the Providence, R.I.-based university said for the most recent fiscal year, private equity was the best performer with a net return of 86.8%, followed by public equities at a net 58.9% and absolute return with a net return of 15.3%.
The actual allocation of those asset classes as of June 30 was 39% private equity, 24.8% absolute return and 19.8% public equities. The news release did not provide specific allocations or return numbers for fixed income and real assets, the other asset classes, but did note they contributed positive returns.
"We're deeply grateful to our external partners as well as the dedicated members of the investment committee and our investment office at Brown for making this a remarkable year," said Jane Dietze, vice president and chief investment officer, in the news release. "Even so, stewardship of the Brown endowment should not be evaluated on any single-year return — instead, our success should be measured entirely through long-term growth of the endowment's role as an enduring financial resource, providing support for students, and advancing Brown's mission of research and teaching."
