University of Pennsylvania's $22.3 billion endowment posted a return of 7.1% for the fiscal year ended June 30.
The Philadelphia-based university's endowment return exceeded its composite benchmark return of 6.5% for the period, according to an endowment performance report on its website.
For the three, five and 10 years ended June 30, the endowment returned an annualized 2.7%, 9.6% and 8.7%, respectively, above their respective benchmarks of 2.5%. 8.4% and 7%.
The endowment had returned 1.3% for the fiscal year ended June 30, 2023.
While the endowment's return for the most recent fiscal year exceeded that of the prior fiscal year, it was the lowest return yet recorded among the 21 endowments whose latest fiscal-year returns have been tracked by Pensions & Investments as of Oct. 15.
The median return among tracked endowments is 10.8%.
The performance report did not say whether the returns were gross or net of fees and did not provide asset allocation information or returns by asset class.
