Qubit: Williams Endowment Returns 2022
William's endowment returned -11.2% for FY 2022. It paid out $158 million to the school covering 56% of its operating budget.
A year ago the venture capital portfolio returned a spectacular 123.8% but this fiscal year it returned -13.0%.
But the endowment invests for the long-term and for the past 50 years it returned 11.7% annually.
“The college’s investment pool returned -11.2% for the year, one of its more disappointing performances in 50 years. The pool ended the year with a market value of $3.5 billion, down from $4.2 billion a year earlier.”
“The good news is that this year followed five consecutive years with positive returns, including the extraordinary 49.9% recorded in FY2021. In short, we had saved for this rainy day.
We invest for the very long term; our annualized return over the past 50 years is 11.7%.”
“Much of the Williams endowment is allocated to equity investments; our global long equity portfolio declined 28.2% in FY2022. Our venture capital portfolio, which returned 124% in FY2021, fell 13% this year. As you will read in this report, however, the declines were cushioned by the performance of our buyout, real estate and real assets portfolios; all rose by double digits.”
Source:
Williams Investment Office - Annual Investment Report 2022
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