With a rate of return on investments near the top among all university endowments and new investments through the Victors for Michigan fundraising campaign, the value of the University of Michigan’s endowment climbed to $11.9 billion, $1 billion more than a year ago.
University of Michigan Regent Andrea Fischer Newman shared this additional statement following the publication of a story today in the Detroit Free Press:
University of Michigan leaders are reaffirming support for the university’s investment practices while refuting new claims by the Detroit Free Press that imply wrongdoing on the part of the university and its regents in regard to interactions with university donors.
As a further expression of its commitment to transparency and appropriate governance regarding investments, the University of Michigan will implement several changes to its practices.
New investments through the Victors for Michigan fundraising campaign and a strong rate of return on investments pushed the market value of the University of Michigan endowment to $10.9 billion at the end of the 2017 fiscal year. A year ago, the endowment was valued at $9.7 billion.
The University of Michigan's long-term investment strategy continues to provide a steady stream of endowment funding, with fiscal year 2016 distributions to the general fund exceeding $300 million for the first time. The total value of the endowment stood at $9.7 billion at the close of the fiscal year, June 30.
The University of Michigan's long-term investment strategy continues to provide the university with a steady stream of endowment funding, with fiscal year 2015 distributions increasing to $294.5 million as the total value of the endowment rose to $10 billion.
In the 15 years since the Board of Regents established an Investment Office to manage the university endowment, the total endowment has nearly quadrupled to $9.7 billion and distributions in support of campus operations have topped $3 billion.
The University of Michigan endowment grew to its highest point ever — $8.4 billion for the fiscal year ended June 30. The U-M endowment is ranked as the second-largest endowment in the nation among public universities and the seventh-largest among all U.S. universities.
School of Information dean Jeffrey MacKie-Mason and his wife, Janet Netz, have committed to a gift of $2.5 million to the school. The gift is among the largest made by a dean at the University of Michigan to his or her school or college.