Endowment skyrockets
Exceeding expectations, Univ. sees 22.9 percent return, reaching $18 billion
Yale earned a 22.9 percent return on its endowment for the 2005-’06 fiscal year, outperforming nearly all its peers and increasing the endowment’s value to $18 billion.
The endowment — valued at $15.2 billion last fall — grew faster than officials anticipated, which will make it easier for them to balance Yale’s budget in the next several years. But the University’s spending policy, a perennial target for criticism in and outside the community, will sharply limit the return’s short-term benefits.
Yale’s endowment — after Harvard’s, the second largest such fund among higher...
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