Princeton University's endowment returned a net 5.6% on its investments for the fiscal year ended June 30, the university reported Monday.
Endowment assets were $26.6 billion, up from $26.1 billion for the previous fiscal year. The previous fiscal-year return was 6.2%.
The university said in a news release that the endowment's 10-year annualized return was 10.6%. The university didn't provide information about the endowment's benchmarks or asset class performance.
"Princeton has been fortunate to face the many financial challenges created by the COVID-19 pandemic from a strong budgetary position, thanks in part to an endowment that is the result of generations of generosity from alumni and friends, as well as effective stewardship and investment by the trustees and PRINCO," said Provost Deborah A. Prentice in the news release.
Princeton University Investment Co. is the university unit that manages the endowment. It certified the results during a meeting of its directors Oct. 15, the news release said.
According to the PRINCO website, the target allocation for the endowment is 30% private equity, 24% independent return (hedge funds), 18% real assets, 13% developed markets equities, 9% emerging markets equities, and 6% fixed income and cash.