UConn Endowment Returns 12.1% Growth, Outperforming Many Peers
The UConn Foundation’s endowment pool achieved returns of 12.1% in the last fiscal year, increasing UConn’s endowment by $57 million to a total of $634 million.
This year’s strong returns outperformed the UConn Foundation’s long-term, inflation-adjusted return target and outpaced many of UConn’s peer universities as reported so far.
“I want to congratulate the Board of Directors Investment Committee and our investment staff for decisions that led to strong growth, generating millions to support students, faculty, innovation, and a vibrant Husky community,” says Amy Yancey, UConn Foundation president and chief executive officer. “Growing the endowment through sound investment strategy is as important to UConn’s mission and future as raising new gifts.”
David Carney, the Foundation’s senior vice president for finance and administration and CFO, attributes much of this year’s strong performance to robust technology stock returns and certain diversification strategies.
Over the past five years, the Foundation’s endowment pool has realized an annualized return of 9.3%, generating $88 million in spendable distributions for UConn.
The University’s endowment consists of donated funds that are invested to help generate money for scholarships and fellowships, faculty, technology, experiential learning, student research opportunities, and other programs benefiting the UConn community. The Foundation’s spending policies provide that 4% of the pool is distributed each year to support these goals while preserving the endowment purchasing power for future generations.
UConn’s endowment grows in two ways: through philanthropic donations and investment returns in excess of distributions. The University’s goal is to build the endowment to $1.5 billion by 2032. This will be a key goal of the University’s new fundraising campaign, “Because of UConn,” set to launch in April.
The Foundation manages the endowment in collaboration with two investment advisors and the investment committee of the Foundation’s board of directors.
In addition to handling endowment growth and fundraising for the University, the Foundation is responsible for providing quality services, programs, and engagement for UConn’s alums.
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