DUMAC, Inc., which manages Duke University's endowment and other investment assets, achieved a return of 20.1 percent on the university's investments in the fiscal year that ended June 30, 2014. The investment returns and new gifts brought the university's endowment’s market value to $7.0 billion. The financial information came in a report to Duke's Board of Trustees on Saturday during the board’s opening meeting of the academic year. The trustees also received updates on a range of academic and athletic topics.
As a result of the investment returns and a second-straight record-setting year for new gifts and pledges during the Duke Forward fundraising campaign, the university's endowment has fully recovered from losses experienced during the financial downturn that began in 2008. The endowment stood at $6.1 billion in FY2008, before a drop of more than 25 percent the following year.
In FY2013, DUMAC achieved a 13.5 percent return on investments. During the past 10 years, the average annual return on its long-term pool has been 10.8 percent.
DUMAC's investment portfolio consists of equities, debt and other investments. More information about it is available at http://dukeforward.duke.edu/ways-to-give/endowment.
The trustees also were updated this weekend on strategic planning efforts at the Pratt School of Engineering by Dean Thomas Katsouleas; on research efforts at Duke by Provost Sally Kornbluth and Vice Provost for Research Lawrence Carin; and on issues and trends in intercollegiate sports by Vice President and Director of Athletics Kevin White.
The trustees made special presentations to Duke women’s golf coach Dan Brooks and Duke men’s lacrosse coach John Danowski, whose teams won national championships in the spring.