- Value of endowment rose about 5% to new peak of $10.1 billion
- Annual return in past decade was 7.9%, tops Harvard, Brown
The University of Pennsylvania reported an investment gain of 7.4 percent in the year ended June 30 as private equity and real estate assets bolstered the fund’s holdings.
The size of the fund grew about 5 percent to $10.1 billion, the Philadelphia-based school said in a statement Thursday. Like most schools that have reported results for fiscal 2015, this marks a new peak value for the endowment, which was the 10th largest in American higher education as of June 2014. The school’s 10-year annualized return is 7.9 percent.
The endowment has been run by Peter Ammon, a former director at Yale University’s investment office, since 2013.
The median return for endowments and foundations with more than $500 million this year is 3.6 percent, according to an estimate by Wilshire Trust Universe Comparison Service.
Among the Ivy League schools that have reported returns for fiscal 2015, Harvard University, with the largest endowment in higher education at $37.6 billion, posted a 5.8 percent gain for fiscal 2015. Yale, which has been the school to beat for investing prowess, reported an 11.5 return. Brown University posted a return of 5.7 percent.