The University of Chicago’s endowment ended FY22 at $10.3 billion as of June 30, 2022 with a -8.8 percent return on investments. This figure follows a 37.6 percent annualized return in FY21.
Global equity markets generated strong performance for the University’s endowment in the first half of FY22. The second half of the fiscal year saw considerable declines in global equity and bond markets, marking an unusual point in history where stocks and bonds were in bear markets at the same time. Despite this period of volatility, the University’s Office of Investments continued to manage the endowment with a disciplined investment approach.
Annual endowment figures reflect the net impact of fundraising, investment performance, and endowment payout, which contribute to the University’s operating budget. The Office of Investments maintains a long-term focus on the University’s endowment performance. Over 10- and 20-year time horizons, the endowment has generated annualized returns of 7.6 percent and 8.7 percent, respectively.
The endowment is a permanent resource that is intended to support the University’s activities over the long term. By supplying a steady source of income to the operating budget, the endowed funds support a broad range of programs and initiatives at the University and the Medical Center. The vast majority of the University’s endowment is legally restricted and must be used for designated purposes. Over the last decade, the University has supported several critical strategic investments, including greatly increased financial aid for undergraduate students and expanded support for faculty and graduate students.
—Prof. Chuan He
