(Bloomberg) Brown University's investments rose 10% in the year ended June 30, beating the 8.9% return of Yale University and trailing the 11% gain of Harvard University.
The fund was valued at $2.18 billion as of June, the Providence, RI., school said in an e-mailed statement on October 2. It received gifts of more than $36 million in the past year, including $15 million from anonymous donors and $2.99 million from the Bill & Melinda Gates Foundation.
Brown generated an average annual return of 4.6% in the five years through June and a 6.2% gain over the past decade, compared with the 4.7% and 7% increases of Harvard, the Cambridge, Massachusetts, school with $27.4 billion. Yale, the New Haven, Connecticut, university with $16.7 billion, reported the worst performance among Ivy League schools that have announced results. Princeton University plans to announce its fund's performance later this month.
Pensions, endowments and other institutional funds returned a median of 13% in the past year, 3.1% for the past five years and 3.4% in the past decade, according to Wilshire Associates, a consulting firm in Santa Monica, Calif. The Standard & Poor's 500 Index of stocks rose 12% in the year ended June 30.
The Ivy League consists of eight private schools in the northeastern U.S. Columbia University's $6.5 billion endowment jumped 17% in the past year, while the University of Pennsylvania's $5.7 billion fund gained 13%. Dartmouth College reported a 10% return for its $3 billion fund. Cornell University said its $4.4 billion in investments rose 13%.Below is a list of endowment results for selected schools.
School Endowment Investment Return Yale $16.7 billion 8.9% MIT $8.3 billion 10% Dartmouth $3 billion 10% Brown $2.18 billion 10% Harvard $27.4 billion 11% Cornell $4.4 billion 13% Penn $5.7 billion 13% Stanford** $13.8 billion 14%*** Columbia $6.5 billion 17% ** Fiscal year ended August 31; all others ended June 30. *** Investment results for 12 months ended June 30.