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.
Totaling $23.9 billion on June 30, 2014, 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, 2014, Yale's investment program added $8.4 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 13.9 percent per annum produced $20.6 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.
Chief Investment Officer David Swensen's letter to the Yale community regarding climate change and Yale's investment portfolio
On April 12, 2016, David Swensen, Yale's Chief Investment Officer, reported on the impact on Yale's investment portfolio resulting from a letter on climate change he sent in 2014 to Yale's external investment managers. See his report and the 2014 letter here.
Yale Response to Congressional Questionnaire
In early February, Yale was one of 56 colleges and universities with endowments valued at more than $1 billion that received a questionnaire by the Senate Committee on Finance and the House Committee on Ways and Means requesting information about endowments. Yale provided its response to the Committees on April 1, 2016, a copy of which can be found here.