Princeton University’s endowment increased $2.8 billion — a 19.6 percent investment gain — during the fiscal year that ended June 30,
The endowment, which funds nearly half of the university’s operating budget, stands at $21 billion. The school is among the top percentile of 520 institutions that report earnings to the Trust Universe Comparison Service, according to the university.
The 10-year average return on the endowment also grew to 10.5 percent.
«The strong performance reflected in our 10-year average return is crucial to our ability to sustain the excellence of our teaching and research mission and to continue providing generous financial aid that makes Princeton’s education affordable to any student who is admitted,» Provost David Lee said in a news release. «This is important as we enhance our efforts to increase the economic diversity of our undergraduate population.»
The Princeton University Investment Co., the university’s office managing the endowment, certified the results at its director meeting Thursday, the university said.