Smith Posts 16.3 Percent Return on Endowment
NORTHAMPTON, Mass. – Smith College’s endowment performed better than many of its peers within the liberal arts sector and better than some Ivy League universities, outpacing the major stock market indexes in the latest year.
The college recorded a 16.3 percent return on its investments for the fiscal year ended June 30, which brought the endowment to $1.2 billion.
Smith’s endowment serves as an important source of annual support, funding nearly one-third of the college’s operating expenses.
The 2010 return reversed the recent trend of losses that reflected the U.S. and world equity markets. And, the college’s performance was in line with the other schools managed by the investment firm, Investure. Investure CEO Alice Handy attributes her clients’ strong performance to her firm’s asset mix. “The primary difference is that we had less real estate than some other funds.”
Smith educates women of promise for lives of distinction. One of the largest women’s colleges in the United States, Smith enrolls 2,800 students from nearly every state and 62 other countries.