Princeton returns 6.2% for fiscal year

Princeton University announced Friday that its endowment recorded a net 6.2% return on investment for the fiscal year ended June 30, according to the university website.

The university also reported that the endowment's value was $26.1 billion at the end of the fiscal year, up from $25.9 billion at the end of the prior fiscal year. For the fiscal year ended June 30, 2018, the endowment posted a 14.2% return.

The endowment's annualized returns for periods ended June 30 were 10.9% for three years, 9.2% for five years, 11.6% for 10 years and 10.6% for 20 years, spokesman Michael Hotchkiss wrote in an email. He didn't provide details on asset categories, their performance during the latest fiscal year or benchmark comparisons.

The endowment is managed by the Princeton University Investment Co. According to PRINCO's website, the endowment has a target asset allocation of 27% private equity, 25% independent return (hedge funds), 18% real assets, 10% international emerging markets equity, 9% U.S. equity, 6% international developed equity, and 5% fixed income and cash.

"Princeton is unusual, even among similar universities, with an endowment that covers more than half of our operating costs each year," Provost Deborah A. Prentice said in comments accompanying the results.