The Massachusetts Institute of Technology Investment Management Company (MITIMCo) has announced that the Institute's endowment generated a return of 22.1 percent for the fiscal year ending June 30, 2007.
Â As a result of strong investment performance and gifts, the endowment's assets totaled $9.98 billion as of June 30, 2007, an increase of $1.6 billion from the previous year, net of spending. For the past 10 years the Institute's endowment has had an annualized return of 15.3 percent.
Â Investment gains were broadly spread across MITIMCo's diversified portfolio, with real estate, private equity and domestic and international equities performing particularly well.
Â MITIMCo is a division of the Massachusetts Institute of Technology, created to manage and oversee the investment of the Institute's endowment, retirement plans and operating funds. As of June 30, 2007, MITIMCo had $14.0 billion of total assets under management.Â