New Jersey Health Foundation endowment earns 16.4% for year ending June 30, 2013
NEW BRUNSWICK, N.J., Sept. 24, 2013 /PRNewswire-USNewswire/ -- New Jersey Health Foundation (NJHF) announced today that its endowment generated investment returns of 16.4 percent for the year ending June 30, 2013 with a 10-year annual return of 8.1 percent.
"Our strategy has been to invest our endowment funds to ensure stability and long-term growth," explained James M. Golubieski, president. "It's the long term investment growth that will allow us to continue to support medical research, education and community service programs in New Jersey for years to come."
New Jersey Health Foundation (www.njhf.org) is a not-for-profit corporation that supports academic excellence in the State of New Jersey in the areas of biomedical research, education and health and human services.
"We are particularly gratified about our investment returns especially as we continue to manage a very active venture capital firm that invests in start-up companies moving toward commercialization," noted Dr. George F. Heinrich, vice chair and CEO.
NJHF established Foundation Venture Capital Group (FVCG) in 2006 to make private equity investments in start-up technology companies founded by university-affiliated New Jersey researchers. To date, FVCG (www.foundationventure.com) has invested up to $500,000 in each of 10 companies and is currently exploring several additional investments.
New Jersey Health Foundation's Finance Committee and its Board of Directors oversee portfolio management activities.
SOURCE New Jersey Health Foundation