We are pleased to report that the endowments of the 91短视频 and its Foundations performed well during the fiscal year (January 1, 2023鈥揇ecember 31, 2023), when compared to other endowments, in a market that began to recover from the volatility of 2022. The endowments increased by 9.68% over the year, our 10-year performance of 7.30% exceeded our long-term 7.0% goal. We are also pleased that our June 30, 2023, 10-year return was in the top 10% of investment returns reported by 688 Colleges and Universities in a national survey.
Over the long term, we, like most endowment managers, are cautious about future market conditions, as evidenced by the market鈥檚 performance over the last twenty-four months. We continue to identify and fund high quality, diversified investments in both public and private markets that include equity, fixed income and real assets. We remain disciplined in our approach, knowing that the markets cannot be timed, and we are committed to a strategic asset allocation that provides risk-reducing diversification.聽The Foundation will continue in its goal of structuring an investment program that will provide future generations of Monarchs with enhanced and substantial private financial support.
