Page 4 - 2014 Endowment Report

Long-term results
Due to the perpetual nature of the investment program, the long-term performance results are a true reflection of the endowment’s long-
term investment horizon. Performance has been strong on both an absolute and relative basis in the last decade despite challenging market conditions. The endowment recorded an annualized return of +7.6%
in the ten years ended June 30, 2014, exceeding both the +7.0% return for the Long-Term Policy Benchmark and the +7.1% return for the average endowment and foundation. Despite the downturn in the markets during the global financial crisis in 2008, the value of $1 invested in the endowment ten years ago would be worth more than $2 today. Most importantly, the ten-year returns were comfortably ahead of the University’s inflation-adjusted spending rate, allowing for a real growth in assets to provide for future generations of students at the University.
Growth of $1: University of Delaware vs. LT Benchmark and Peers
2.00 1.80 1.60 1.40 1.20 1.00
0.80
2004 2005
Endowment
E&F Peer Returns
LT Policy Benchmark
2006 2007
2008 2009 2010
2011 2012 2013 2014
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