The University of Central Florida’s endowments have outperformed those of Yale and Harvard, resulting in more money for student scholarships and academic programs.
The UCF Foundation announced a 12.5 percent return on endowment investments for the 2010 fiscal year, beating Harvard’s 11 percent return and Yale’s 8.9 percent return.
Investment returns are used at UCF to support student scholarships and academic programs.
UCF’s endowments ended the year with a value of $104 million, a 37 percent increase from their lowest point in February 2009, when the fund was valued at $76 million.
“We weathered the worst recession ever recorded by trusting our investment decisions and maintaining reserves during more prosperous times,” said Bob Holmes, CEO of the UCF Foundation.
UCF’s endowments are governed by an investment committee under the direction of a board of directors, an advisory group and UCF Foundation staff members.
The UCF Foundation, established in 1969, serves as the official fund-raising and gift beneficiary for the university.