Carnegie Mellon endowment logs 42.6% return

Updated with correction.

Carnegie Mellon University’s annualized net three-, five- and 10-year returns were 17.5%, 15.4% and 10.9%, respectively. These figures were incorrectly reported in a previous version of this story that ran in P&I Daily on Nov. 8.

Carnegie Mellon University's $3.1 billion endowment returned a net 42.6% in the fiscal year ended June 30, the Pittsburgh-based university announced.

Carnegie Mellon’s annualized net three-, five- and 10-year returns were 17.5%, 15.4% and 10.9%, respectively.

The endowment returned a net 5.4% in the fiscal year ended June 30, 2020.

Benchmark information and asset allocation for the endowment were not provided.

"Just over 15 years ago, the university began to put a strategy in place to structure the endowment portfolio as equity-oriented, global in scope and private investment-focused," said Charles A. Kennedy, chief investment officer, in a news release. "Generous gifts coupled with an investment focus on building towards long-term goals positioned the portfolio well to benefit from such an exceptional year in the markets."

Ryan Scarpino, Carnegie Mellon spokesman, could not be immediately reached for additional information.