UConn Endowment Returns 12.1% in Fiscal 2024, Plans Major Fundraising

The University of Connecticut on Monday announced that the university’s endowment, managed by the UConn Foundation, achieved a 12.1% return in fiscal 2024. During the period, which ended June 30, UConn’s endowment assets rose by $57 million to $634 million.

Staff of the fund attributed the fiscal year’s returns to technology stocks, as well as diversification strategies. The endowment returned negative 1.07% in fiscal year 2023.

“I want to congratulate the Board of Directors’ Investment Committee and our investment staff for decisions that led to strong growth, generating millions to support students, faculty, innovation, and a vibrant Husky community,” said Amy Yancey, the UConn Foundation’s president and CEO since February, in a statement. “Growing the endowment through sound investment strategy is as important to UConn’s mission and future as raising new gifts.”

The fund achieved a 9.3% annualized return over the past five years. As a part of a strategic 10-year plan adopted last fall, the endowment stated its aim to achieve $1 billion in assets. In its most recent update, UConn announced it aims to achieve $1.5 billion in assets under management in its endowment by 2032 as part of an upcoming fundraising campaign.

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