Yale’s endowment has seen a 20.2% return on investment for the fiscal year ending June 30, 2014. The fund has grown from a previous $20.8bn to $23.9bn, net of spending.

The university expects to be spending $1.1bn of the endowment during the fiscal year ending June 30, 2015. This is equivalent to 34% of Yale’s net revenues – and represents nearly double the contribution to the institutions operating budget from a decade ago.

The fund has been growing steadily with…