Cornell Endowment Rises 17% Amid Departures of Fund Managers
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Cornell University’s endowment rose 17 percent in the year ended June 30, amid the departures of two top fund managers, including Chief Investment Officer Michael Abbott.
The endowment, after taking into account gifts and spending, rose to $5.27 billion, helped by “a well-diversified portfolio and good manager selection,” the Ithaca, New York school said in a statement posted July 6 on its website. Claudia Wheatley, a spokeswoman for the school, declined to comment on investment performance.