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:: By Amy Braverman Puma
:: Graphic by Allen Carroll
Fig.1
Returns of interest
Always trying to demystify the endowment, Chicago’s Development and Alumni Relations team points out that the fund—which this year accounted for $4.8 billion or 87.6 percent of the University’s total assets—provides a high rate of return.
The Board of Trustees’ Office of Investments managed the endowment funds to an 18.1 percent return in FY’05 (at right), up from 16.6 percent in 2004. Although the University doesn’t yet have 2006 figures for all its peer institutions, Chicago’s most recent return was even higher—19.2 percent. Harvard’s return, meanwhile, fell from 21.1 percent in 2004 to 16.7 percent in 2006.
“Gifts to the endowment,” says director of institutional and market research Diana Joyce, “will provide an ever-growing source of revenue.”
