IMC CEO Statement on FY22 Endowment Returns

October 12, 2022

The total value of Columbia’s endowment as of June 30, 2022 was $13.3 billion, reflecting a return of -7.6% on the assets managed by Columbia University Investment Management Company, as well as gifts and transfers, and spending from the endowment in fiscal 2022. The University’s trailing ten-year return is 8.8%.

“The University’s endowment results were negatively impacted by the dramatic reversal in the equity markets during the second half of the year,” stated Columbia IMC President and CEO Kim Lew. “Many of the investments that outperformed over the past few years suffered steep declines, even if on a long-term basis they remain positive contributors. We are actively continuing the work we began over a year ago to reposition the portfolio, at more reasonable valuations.”

Columbia’s endowment is a critical form of support for University academic programs, faculty research, and student financial aid. In the spring of 2022, Columbia announced enhancements to its financial aid policy, including expanded aid for lower and middle income students in the College and Engineering. Due in large part to the generosity of donors and endowment support, students in these schools with family incomes up to $150,000 and with typical assets will attend Columbia tuition free. The University concurrently announced a substantial increase in spending on financial aid for students in the School of General Studies.