Study: Operating Charity Investment Returns Rise to an Average of 15.1 Percent in Fiscal Year 2013

This year's return profile was quite different from last year's. Like this year, traditional equities led the way in FY2012, with nearly equal returns of 16.9 percent for international equities and 16.7 percent for domestic equities. Fixed income, however, made a positive contribution, with a 7.4 percent gain. At a 7.1 percent return last year, alternative strategies improved 340 basis points this year, while short-term securities/cash/other gained 1.1 percent last year versus no change this year.