Penn's Endowment Returns 13 Percent

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Media Contact:Julie S. McWilliams | juliemcw@upenn.edu | 215-898-1422September 24, 2010

PHILADELPHIA -- The University of Pennsylvania endowment had a return of nearly 13 percent for fiscal year 2010.

The Associated Investments Fund, in which much of the University’s $5.7 billion endowment is invested, returned 12.6 percent for the fiscal year that ended June 30, outperforming its benchmark by 3.6 percent.  Major contributors to the return were credit-related investments in the absolute return portfolio as well as traditional public equities.
 
The AIF remains extremely liquid with more than two-thirds of the portfolio available in cash on or before calendar year end.


"We are gratified to have the financial strength to maintain a steady endowment payout to support the University in the achievement of its mission as well as the financial flexibility to actively pursue new investment opportunities," Craig Carnaroli, executive vice president, said.

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