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October 1, 2024

UConn endowment returns 12.1% growth, but total still lags peers

Photo | Contributed The UConn campus in Storrs.
By Harriet Jones

The UConn Foundation has announced that its endowment pool achieved returns of 12.1% in the last fiscal year, boosting the endowment by $57 million to a total of $634 million.

The return outperformed the foundation’s target and the institution says it also outpaced many of UConn’s peer universities that have reported their numbers.

However, UConn’s total endowment still lags many peer institutions. There are at least 25 state flagship universities with endowments of more than a billion dollars, and the University of Michigan tops the table with an endowment of close to $18 billion, according to a 2023 report by the state Office of Legislative Research. 

The foundation attributes the strong performance to robust technology stock returns and its diversification strategies.

“Growing the endowment through sound investment strategy is as important to UConn’s mission and future as raising new gifts,” said Amy Yancey, the UConn Foundation’s president and chief executive officer. 

The endowment is used to fund scholarships and fellowships, faculty, technology, experiential learning, student research opportunities, and other programs benefiting the UConn community. 

Four percent of the pool is distributed each year to support these goals.

The University’s goal is to build the endowment to $1.5 billion by 2032. This will be a key aim of the University’s new fundraising campaign, “Because of UConn,” set to launch in April.
 

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