University of Chicago reports 18.9 percent return on investments in FY2010
The University of Chicago endowment rose to a market value of $5.54 billion by June 30, 2010, marking an 18.9 percent return on investments for the fiscal year 2010.
The average investment result for the University over the last three years was a 1.1 percent loss. The average over the last five years was a 6.9 percent gain; the average investment return over the last 10 years was a 5.5 percent gain. All of those compare favorably to stock index returns over these periods.
The strong recovery of the endowment, after a 21.5 percent loss in FY2009, was achieved even as the University maintained a lower risk profile and significantly improved liquidity. The results reflect the broad recovery of bond and equity markets, strategic changes in the University's approach to investments and strong performance by the University's investment managers.
"We are pleased to report continuing recovery in our investment results," said Mark A. Schmid, Vice President and Chief Investment Officer. "We have built a strong investment team, including the addition of a new Chief Risk Officer and Managing Director of Strategy. Working in close consultation with our Investment Committee, and with University leadership, we have integrated our investment strategy into a more comprehensive, total-enterprise approach to the University's long-term fiscal health."
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