Stanford University today announced a 40.1 percent investment return in its Merged Pool, net of all external and internal costs and fees, for the year ending June 30, 2021. The Merged Pool is the principal investment vehicle for the university’s endowment. Stanford’s performance surpassed the 33.4 percent median return for U.S. college and university endowments for the year, as preliminarily reported by Cambridge Associates, and represented $12.1 billion of net investment gains. The value of the Merged Pool rose to $41.9 billion as of June 30, 2021.