Cornell University's $10 billion endowment returned 41.9% for the fiscal year ended June 30.
The return well exceeded its benchmark of 26.9% for the period and was the largest in 35 years, the Ithaca, N.Y.-based university said in a news release Thursday.
For the five years ended June 30, the endowment reported an annualized return of 13.6%, "substantially exceeding Cornell's broad markets-based benchmarks," the news release said.
The endowment had returned a net 1.9% for the fiscal year ended June 30, 2020.
For the most recent fiscal year, six of the endowment's eight asset classes outperformed their benchmarks, the news release said. Three asset classes outperformed their benchmarks by more than 10 percentage points.
The news release did not disclose whether the new fiscal year returns were gross or net of fees and did not provide further information on the asset classes.