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Princeton University Endowment Returns 11.7%

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David Lee

David Lee

The US$ 18 billion Princeton endowment recently boasted an 11.7% return in the fiscal year ending June 30, 2013. The 10-year annualized return ending on that date was 10.2%.

Princeton University Provost David Lee noted that the large endowment would help benefit students through financial aid and scholarship funding. According to Lee, Princeton’s “scholarship budget has grown to $121.4 million this year.” That’s about US$ 6 million more than the university spent on scholarships last year, according to tax filings made by Ivy League institution.

According to the university’s website and tax filings, during the 2012/2013 school year, roughly 4,400 undergraduate students received tuition scholarships totaling US$ 110 million, or US$ 25,000 per recipient. Tuition for Princeton runs US$ 40,000 per annum.

The endowment aims to spend between 4% to 5.75% of the endowment per year. The report noted that Princeton’s spending was well within those parameters.

Princeton doesn’t disclose specific holdings in its fund, but an announcement over the summer confirmed that the endowment didn’t hold any “direct” interests in weapon manufacturers. The announcement was made in response to a petition filed by university professors calling for a divestment of stock in such companies.

Kuala Lumpur to Singapore Highway Delayed

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The Malaysian government under Prime Minister Mahathir bin Mohamad has been reprioritizing its large-scale infrastructure developments. The highly anticipated railway from Kuala Lumpur to Singapore has been delayed by another five years. The governments of Malaysia and Singapore signed a formal agreement on September 5, 2018. The previous ruling party in Malaysia had set the railway in motion, but the current administration is seeking time for further review. A joint statement suggested that the railway was still a certainty.

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Former FSDEA Chairman Arrested in Angola

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Jose Filomeno de Sousa dos Santos, the son of Angola’s former president and former chairman of the country’s sovereign wealth fund, has been placed under arrest, according to the state prosecutor’s office. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Keppel Land China Acquires Stake in Nanjing Jinsheng Real Estate Development

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On September 20, 2018, Keppel Land China, a subsidiary of Singapore-based Keppel Corporation, purchased a 40% stake in Nanjing Jinsheng Real Estate Development Co, a subsidiary of Gemdale Corporation. Keppel Land China did the deal through an entity called Eternal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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