For the fiscal year that ended June 30, 2014, Princeton University's endowment earned a 19.6 percent investment gain. The endowment value stood at $21.0 billion, an increase of about $2.8 billion from the previous year.
The Princeton University Investment Co. (PRINCO), the University office that manages the endowment, certified the results at its director meeting Oct. 16, 2014. The 10-year average return on the endowment, which grew to 10.5 percent, places the University's endowment among the top percentile of 520 institutions reporting to the Trust Universe Comparison Service.
"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. "This is important as we enhance our efforts to increase the economic diversity of our undergraduate population."
Princeton's scholarship spending has outpaced fee increases for 13 of the last 14 years.
Early this year, Princeton University trustees approved an 8.5 percent increase in undergraduate financial aid to $131.6 million in the University's operating budget for 2014-15.
Lee noted that the University will continue to look for ways to carry out its activities more efficiently in order to create the capacity both to respond to new external budgetary pressures, and to generate new opportunities for research and learning.
