Following last year’s dip of 1.4 percent, Bowdoin College’s endowment grew 12.4 percent during fiscal year 2017, bringing it to $1.46 billion.
The increase was slightly less than the average of its peer schools, the Bowdoin Orient reported.
In 2012, Bowdoin’s $902.3 million endowment ranked 82nd among U.S. and Canadian institutions and 13th in New England, according to the National Association of College and University Business Officers.
The following year, it surpassed $1 billion for the first time
“The strong absolute return for the endowment in fiscal 2017 was the result of a combination of good manager selection in choosing external investment managers as well as ebullient global equity markets related to historically low interest rates and the continuing impact of global central bank easing,” Paula Volent, senior vice president for investments, reportedly wrote in an email to the Orient, the college’s student newspaper.
“In fiscal 2017 and with the election of Donald Trump, expectations of changes in corporate taxes and less regulation resulted in a market rally,” she wrote. “Additionally, global GDP growth, low inflation and lower unemployment numbers combined with continuing low interest rates have created a good environment for global equity performance.”
Nearly half of the college’s endowment supports student financial aid each year, according to the Orient.
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