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Princeton’s endowment shrank by 23 percent this past fiscal year—beating Harvard’s 30 percent loss—but the decrease was buffered by the school??s decision to finance its operating expenses using bonds and other sources of cash, rather than drawing on its endowment...
...Princeton University Investment Company, which manages the school??s endowment, reported investment losses of 23.7 percent this past year—better than the 30 percent loss predicted in the spring. The loss brings the total value of Princeton’s endowment as of June 30 to $12.6 billion, down from $16.3 billion last year...
Despite the better-than-anticipated returns, Tilghman said Princeton will proceed with its plan to reduce the school??s total operating budget by $170 million over this year and the next, and warned that additional layoffs would be needed this fall...
Tilghman acknowledged that some have criticized the school??s diversified investment portfolio, which includes illiquid assets such as real estate and private equities, for “expos[ing] the University to unacceptable levels of risk.” She said Princeton would be “reviewing [its] overall investment strategy” to help it weather future severe downturns...
Though Faculty of Arts and Sciences Dean Michael D. Smith has stressed the significance of the six FAS working groups in closing the school??s projected $110 million annual deficit, the committees have made mixed progress in their task of drafting the highly anticipated budgetary proposals aimed at closing that...