The endowment of Cornell University, Ithaca, N.Y., posted a net return of -1.3% for the fiscal year ended June 30, compared to a net return of 41.9% for the previous fiscal year.
In a Monday news release, the university said the negative return was still better than the benchmark of -5.1%.
The endowment had $9.8 billion in assets as of June 30, compared to the record $10 billion for the previous fiscal year.
"We ended the year with a very respectable return relative to the environment," Chief Investment Officer Kenneth Miranda said in the news release. "We position the portfolio for the long term to weather positive and negative years."
The news release didn't provide details on historical performance or asset allocation. Rebecca Valli, a university spokeswoman, did not return requests for comment.
