University of Chicago reports 18.8 percent return on investments in FY’11
The University of Chicago endowment grew to a market value of $6.31 billion as of June 30, 2011, marking an 18.8 percent return on investments for the fiscal year 2011. This follows an 18.9 percent return for fiscal year 2010.
The average investment result for the University over the last three years was a 3.5 percent return; the average over the last five years was a 6.8 percent gain; and the average over the last 10 years was an 8.3 percent gain. All of those compare favorably to the market-based, strategic benchmarks used by the University for these periods.
The strong recovery of the endowment, after the global financial crisis of 2008 and 2009, took place even as the University established a lower risk profile and significantly improved liquidity. The most recent results reflect continued broad recovery of equities and private markets, together with strong performance by the University's investment managers, according to Vice President and Chief Investment Officer Mark Schmid.
"We are pleased to report a second year of positive investment results," Schmid said. “Our investment strategy is part of a comprehensive approach to the University’s fiscal health. The investment team, working closely with the Investment Committee and University leadership, is committed to supporting the University’s mission, now and in the long term.”
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