National Association of College and University Business Officers (NACUBO) Press Release, Higher Education Endowments Post Strong Returns During the Pandemic But See Inflation as an Emerging Challenge:

College and university endowments posted dramatically higher investment returns, asset values, and giving levels in fiscal year 2021 while maintaining their spending rates with a predominant focus on providing financial aid to students.

At the same time, endowment managers raised their long-term return targets to meet increased fees and expenses as well as growing concern about rising inflation, part of the broader macroeconomic fallout from COVID-19. …

For the 12 months ending June 30, 2021, endowments generated an overall average return of 30.6 percent (net of fees), up sharply from a 1.8 percent overall average return in FY20.

• Chronicle of Higher Education, College Endowments Saw Stellar Returns as the Market Soared
• Higher Ed Dive, Endowment Returns Ballooned to 30.6%, Their Highest Level Since 1983
• Inside Higher Ed, College Endowments Boomed in Fiscal 2021