The endowment of Columbia University, New York, posted a net return of 4.7% for the fiscal year ended June 30, the university announced Oct. 17.
The endowment, managed by the Columbia University Investment Management Co., ended the fiscal year with $13.6 billion in assets.
For the fiscal year ended June 30, 2022, the endowment's net return was -7.6% on assets of $13.3 billion.
The endowment's portfolio "benefited from strong public markets performance in the United States in fiscal 2023, and was also bolstered by hedge fund outperformance relative to benchmarks," Kim Lew, president and CEO of the Columbia University Investment Management Co., said in an Oct. 17 news release.
"While our private assets portfolio was modestly negative in aggregate this past year, we believe that private markets continue to offer investment opportunities at favorable valuations in segments that will outperform over the next market cycle," Lew said. "Overall, the investment team continue to reposition and strengthen the portfolio, and we are excited for the opportunities ahead."
The news release provided no details about the endowment's asset allocation, the performance of asset categories or the benchmark for the just-completed fiscal year's performance. A university spokesman declined comment.
The endowment's 10-year net annualized return as of June 30 was 8%, the news release. The spokesman provided no additional details.
