Yale University's endowment earned an investment return of 12.5% in its last fiscal year, surpassing the return rate of rival universities, including Harvard University.
Yale's endowment fattened to $20.8 billion, from $19.3 billion in the prior year, the university said Tuesday.
That's better than its annual average return of 11% over the last 10 years, it said. During that time, the endowment has grown from $11 billion.
While the size of Harvard's endowment is much larger than Yale's, the return rate lags. Harvard announced on Tuesday that its endowment was valued at $32.7 billion at the end of the most recent fiscal year with a return of 11.3%.
Jane Mendillo, president of the Harvard Management Company, said that the university has "made a strong recovery since the global economic downturn of 2008-2009."
However, Harvard said the endowment's return slipped below its 20-year annual average of 12%.