Yale University, where I teach, has entrusted its endowment portfolio to one man, David Swensen, for over 20 years. During this period, the portfolio has grown from just over $1 billion to $18 billion – an average return of more than 16% a year, which appears to be the highest of any major university. And it shows no signs of diminishing: in the latest fiscal year ending in June, the return was 22.9%.
Yale University, where I teach, has entrusted its endowment portfolio to one man, David Swensen, for over 20 years. During this period, the portfolio has grown from just over $1 billion to $18 billion – an average return of more than 16% a year, which appears to be the highest of any major university. And it shows no signs of diminishing: in the latest fiscal year ending in June, the return was 22.9%.