Yale University says its endowment earned a 4.7 percent investment return for the past year and now stands at $19.3 billion.
Yale says the investment gains of nearly $900 million for the year ending June 30 were offset by spending of about $1 billion. The value of the endowment fell from $19.4 billion on June 30, 2011, to $19.3 billion on June 30, 2012.
Yale says the profit came in a difficult investment environment, with foreign markets struggling.
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