We are pleased to report that the endowments of the University and its Foundations performed very well in the Foundation's fiscal year 2021 (January 1, 2021 - December 31, 2021). The endowments grew by 16.32% over the year, and our 10-year performance of 9.78% exceeded our long-term 7.0% goal. We are also pleased that again our June 30, 2021, performance was comparable to the national average reported for just over 700 Colleges and Universities.
Over the long term, we, like most endowment managers, are cautious about future market conditions, as evidenced by the rocky start to 2022. 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. 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.