(Bloomberg) -- Duke University’s endowment posted a 12.7 percent investment return in the year through June, a period when many large college funds were helped by a global stock-market rally.
The endowment’s value reached a record $7.9 billion, the North Carolina-based private school said Saturday in a statement, a 16 percent increase from the previous year.
Many of the largest college funds attributed double-digit gains for fiscal 2017 to strong public equity markets. The average increase for more than 450 endowments and foundations in fiscal 2017 was 12.7 percent, according to data by Cambridge Associates.
Duke in its statement didn’t disclose the endowment’s investment strategies, asset allocation or performance by asset class. Neal Triplett has been president of Duke University Management Co, known as Dumac Inc., since 2007.
The fund’s 10-year annualized return through June 30 was 6 percent.