Dartmouth Beats Investment Target

Hanover — Dartmouth College’s endowment earned an investment return of 12.1 percent for the 2013 fiscal year, the school announced Thursday.

The gains outpaced the school’s benchmark return by nearly 2 percentage points, and increased the total value of the endowment to $3.7 billion as of June 30, up $247 million over the previous year.

Pamela L. Peedin, Dartmouth’s chief investment officer, said in a news release that the returns “are a strong result for Dartmouth and the many critical programs the endowment supports.

“The portfolio benefited from robust equity markets and particularly from excellent performance in venture capital and marketable alternative investments,” she said.

The endowment funds more than a fifth of Dartmouth’s annual operating budget, including the support of financial aid and academic, research, athletic, recreational and cultural programs.

The $247 million increase reflects net investment gains of $405 million and new gifts and transfers of $27 million, which were offset by distributions of $185 million to programs.

Two of Dartmouth’s Ivy League counterparts, Yale and Harvard universities, also enjoyed double-digit returns this year, according to The Boston Globe this week. The Globe reported Yale’s endowment to be $20.8 billion after a 12.5 percent return over the previous fiscal year. Meanwhile, Harvard reported $32.7 billion in assets, an 11.3 percent gain.

Dartmouth’s endowment has generated an annualized return of 9.4 percent for the 15 years ending June 30, according to the school.

Maggie Cassidy can be reached at mcassidy@vnews.com