The University of Minnesota endowment was the top investor among its peers this past fiscal year, according to a report by Bloomberg News.
The school posted a return of 20.4 percent on its $1.3 billion fund, which supports scholarships, some research and university initiatives.
The newswire says the U outperformed the University of California, which came in second with 18.7 percent, Penn State, the University of Wisconsin and the University of Texas.
Chief Investment Officer Stuart Mason says the U has been near the top before, but this is different.
“I don’t believe that we have ever — a least my 12 years’ tenure — we’ve never been identified as perhaps the highest,” he said.
Mason says the great year will help boost the thing that he’s more focused on: the U’s long-term investment performance.
“A very good year like this one obviously increases the long-term averages, but, you know, it’s fun to have a great year,” he said.
The U’s 3-year return is 12.5 percent, he said, and its 5-year return is 11.6 percent.
Bloomberg reports that many private colleges and universities won’t report their returns till later this month.