Yale outdoes Harvard with 3.4% gain in investments

New York

YALE University has posted a 3.4 per cent investment gain, besting rival Harvard University and most US college endowments which reported annual losses.

The value of Yale's endowment declined less than one per cent to US$25.4 billion because the targeted spending rate of 5.25 per cent was higher than the fund returned in the year ended June 30, according to the New Haven, Connecticut-based university. Yale, which has the second-largest US school fund behind Harvard, has the best return among school funds that have posted so far.