Initial data for U.S. endowments’ 2021 fiscal year, which is collected from annual reports, is now available in the P&I Research Center. Assets are at all-time highs, with Harvard University becoming the first university to have a $50 billion endowment.
Asset allocations remained mostly the same. About 65% of investments were allocated to equity assets, with a roughly equal split between public and private equity. Real assets made up around 10% of the average portfolio. Of the institutions that disclosed real estate and other real assets separately, there was a 45% allocation to real estate. Of the currently available data, Princeton University had the largest allocation to real assets at 13.8%.
The remaining 25% was in hedge funds, fixed income and cash.
Fiscal year 2021 investment performance was spectacular, rivaled only by the dot-com bubble. Multiyear investment performance information can be found in profiles or in the Asset Owner Performance database.
Additional data will be published as more institutions release their annual reports.
