Led by Chief Investment Officer David F. Swensen and operating under the guidance of Yale's Investment Committee, the Investments Office manages Yale's Endowment and certain related assets.

Totalling $20.8 billion on June 30, 2013, the Endowment contains thousands of funds with a variety of purposes and restrictions. Approximately three-quarters constitute true endowment - gifts restricted by donors to provide long-term funding for designated purposes. The remaining one-quarter represent quasi-endowment, monies that the Yale Corporation chooses to invest and treat as endowment.

During the decade ending June 30, 2013, Yale's investment program added $7.0 billion relative to the results of the mean endowment. The University's twenty-year returns tell a similarly strong story. A market-leading return of 13.5 percent per annum produced $18.4 billion in relative value added to support Yale's mission of teaching and research. Sensible long-term investment policies, grounded by a commitment to equities and a belief in diversification, underpin the University's investment success.

For more information on the Yale Investments Office and what we do, please see our annual Endowment Update.