Cornell Trails Most Ivy Rivals With 15.8% Investment GainMichael McDonald
Cornell University reported a 15.8 percent gain on its investments in the year ended in June, trailing every other Ivy League school except Harvard University.
The value of long-term investments, including Cornell’s endowment, climbed to $6.2 billion from $5.7 billion a year earlier, the Ithaca, New York-based university said today in a statement. The five-year annual average return was 11.7 percent.
The annual gain was the lowest among the eight Ivy League schools, except for Harvard in Cambridge, Massachusetts, which posted a 15.4 percent return. Yale University, in New Haven, Connecticut, led the elite schools this year with a 20.2 percent increase, followed by Princeton University in New Jersey at 19.6 percent.
The median return for large endowments and foundations this year is 16.7 percent, according to Wilshire Trust Universe Comparison Service. The success of public equity bolstered the performance, as the Standard & Poor’s 500 Index gained more than 20 percent in the year ended June 30.