The opportunity to play for Queen’s Women’s Rugby while working towards my Bachelor of Arts in Health Studies at Queen’s was only possible with donor support. The MacInnis and Howey Families Ontario Bursary has significantly changed my university experience by allowing me time to study and play for a varsity team.
Endowment Fund
Donor support makes a difference every day at Queen’s. Your generosity makes it possible for our students to prepare for impactful careers and for our researchers to solve the global challenges that will propel us all forward.
You play an integral role in advancing Queen’s mission through your support and unwavering confidence. Your investment not only makes a difference today but has a profound influence on our future.
Thank you for believing in Queen’s!
Total Assets
$1,457,000,000
as of April 30, 2023
$24,700,000
Total gifts and pledge payments received to endowed funds in the 2022–2023 fiscal year
Riley, Artsci’25
8.0%
Annualized return over the past 10 years
For the 2022–2023 Fiscal Year
The endowment’s growth would not be possible without our community of generous donors, many of whom regularly give multiple gifts each year.
-
Donors2,412
-
New Funds26
$521M
Distributed Over the past 15 years
Second-highest funds per full-time equivalent student among Canadian universities*
*Source: 2021 CAUBO Investment Survey (>5000 students)
-
McGill University
$57,371 -
Queen‘s University
$50,239 -
University of Alberta
$44,246 -
Dalhousie University
$42,689 -
University of British Columbia
$39,902 -
University of Calgary
$37,323 -
University of Toronto
$36,773 -
University of Manitoba
$35,558 -
Western University
$33,488 -
Simon Fraser University
$31,998
$1.457B
Market Value of the Endowment
(As of April 30, 2023, after distributions)
| Year | Value |
|---|---|
| 2001 | $412M |
| 2002 | $446M |
| 2003 | $413M |
| 2004 | $462M |
| 2005 | $515M |
| 2006 | $572M |
| 2007 | $648M |
| 2008 | $625M |
| 2009 | $473M |
| 2010 | $566M |
| 2011 | $613M |
| 2012 | $611M |
| 2013 | $694M |
| 2014 | $787M |
| 2015 | $896M |
| 2016 | $919M |
| 2017 | $1028M |
| 2018 | $1075M |
| 2019 | $1137M |
| 2020 | $1131M |
| 2021 | $1378M |
| 2022 | $1409M |
| 2023 | $1457M |
The Cartwright-Duncan Trust Bursary is helping me to fund the opportunity to shadow and learn from physicians at a hospital in Kenya through the International Medical Aid Internship Program. This opportunity will provide me with an international experience in the medical field and allow me to work on my practical medical skills. Receiving this bursary will ultimately contribute to my future success in the medical profession. Thank you.
Jayden, BHSc’25
Endowment Payout
Fiscal year is from May 1 to April 30.
-
$36M2018
-
$40M2019
-
$42M2020
-
$45M2021
-
$50M2022
-
$56M2023
Asset Mix (%)
(As of April 30, 2023)
| Asset | Percentage |
|---|---|
| Global Equity | 56.1% |
| Private Equity | 4.4% |
| Small Cap Equity | 5.6% |
| Canadian Fixed Income | 3.7% |
| Absolute Return Fixed Income | 7.8% |
| Infrastructure | 10.9% |
| Real Estate | 5.1% |
| Cash and Short Term Investments | 6.4% |
Carbon Footprint vs. Benchmark Over Time
One year ago, our endowment’s carbon footprint was 14% above the benchmark index. As of December 31, 2022, its carbon footprint was 84.9 tons CO2e per million dollars invested, which was 12% below the benchmark. Read more about Responsible Investing.
| Percentage | Data | Legend | |
|---|---|---|---|
| 20% | 14% | -12% | |
| 15% | |||
| 10% | |||
| 5% | |||
| 0 | Benchmark | ||
| -5% | |||
| -10% | |||
| -15% | |||
| -20% | |||
| -25% | 2030 Target | ||
| 2021-12-31 | 2022-12-31 | ||
Growth of $1,000 Invested in the Fund After Distributions
(As of April 30, 2023)
| Month | Endowment $1801 | Inflation $1655 |
|---|---|---|
| April 2000 | $1000 | $1000 |
| May 2000 | $1030 | $1004 |
| June 2000 | $1022 | $1011 |
| July 2000 | $1015 | $1014 |
| August 2000 | $1042 | $1013 |
| September 2000 | $1058 | $1017 |
| October 2000 | $1072 | $1019 |
| November 2000 | $1064 | $1022 |
| December 2000 | $1098 | $1023 |
| January 2001 | $1086 | $1019 |
| February 2001 | $1085 | $1024 |
| March 2001 | $1081 | $1028 |
| April 2001 | $1087 | $1035 |
| May 2001 | $1109 | $1043 |
| June 2001 | $1066 | $1044 |
| July 2001 | $1086 | $1041 |
| August 2001 | $1086 | $1041 |
| September 2001 | $1062 | $1043 |
| October 2001 | $1074 | $1038 |
| November 2001 | $1099 | $1029 |
| December 2001 | $1119 | $1031 |
| January 2002 | $1106 | $1033 |
| February 2002 | $1115 | $1039 |
| March 2002 | $1131 | $1047 |
| April 2002 | $1107 | $1053 |
| May 2002 | $1107 | $1055 |
| June 2002 | $1067 | $1057 |
| July 2002 | $1038 | $1063 |
| August 2002 | $1042 | $1068 |
| September 2002 | $990 | $1068 |
| October 2002 | $1000 | $1071 |
| November 2002 | $1019 | $1074 |
| December 2002 | $1016 | $1070 |
| January 2003 | $983 | $1079 |
| February 2003 | $961 | $1088 |
| March 2003 | $959 | $1091 |
| April 2003 | $986 | $1084 |
| May 2003 | $1011 | $1085 |
| June 2003 | $1011 | $1085 |
| July 2003 | $1020 | $1086 |
| August 2003 | $1021 | $1089 |
| September 2003 | $1020 | $1091 |
| October 2003 | $1036 | $1088 |
| November 2003 | $1042 | $1091 |
| December 2003 | $1085 | $1092 |
| January 2004 | $1109 | $1093 |
| February 2004 | $1130 | $1095 |
| March 2004 | $1114 | $1099 |
| April 2004 | $1113 | $1102 |
| May 2004 | $1111 | $1111 |
| June 2004 | $1117 | $1112 |
| July 2004 | $1106 | $1111 |
| August 2004 | $1103 | $1109 |
| September 2004 | $1102 | $1111 |
| October 2004 | $1107 | $1113 |
| November 2004 | $1121 | $1117 |
| December 2004 | $1152 | $1115 |
| January 2005 | $1158 | $1114 |
| February 2005 | $1178 | $1119 |
| March 2005 | $1166 | $1125 |
| April 2005 | $1165 | $1128 |
| May 2005 | $1182 | $1129 |
| June 2005 | $1187 | $1131 |
| July 2005 | $1211 | $1133 |
| August 2005 | $1208 | $1138 |
| September 2005 | $1206 | $1147 |
| October 2005 | $1176 | $1142 |
| November 2005 | $1193 | $1140 |
| December 2005 | $1214 | $1139 |
| January 2006 | $1239 | $1145 |
| February 2006 | $1232 | $1143 |
| March 2006 | $1255 | $1149 |
| April 2006 | $1251 | $1156 |
| May 2006 | $1212 | $1161 |
| June 2006 | $1211 | $1159 |
| July 2006 | $1230 | $1160 |
| August 2006 | $1244 | $1162 |
| September 2006 | $1249 | $1156 |
| October 2006 | $1280 | $1153 |
| November 2006 | $1312 | $1156 |
| December 2006 | $1334 | $1158 |
| January 2007 | $1346 | $1158 |
| February 2007 | $1342 | $1166 |
| March 2007 | $1346 | $1176 |
| April 2007 | $1362 | $1181 |
| May 2007 | $1365 | $1186 |
| June 2007 | $1354 | $1184 |
| July 2007 | $1337 | $1185 |
| August 2007 | $1323 | $1182 |
| September 2007 | $1332 | $1184 |
| October 2007 | $1344 | $1181 |
| November 2007 | $1316 | $1184 |
| December 2007 | $1309 | $1185 |
| January 2008 | $1246 | $1183 |
| February 2008 | $1234 | $1187 |
| March 2008 | $1236 | $1192 |
| April 2008 | $1273 | $1201 |
| May 2008 | $1284 | $1213 |
| June 2008 | $1230 | $1221 |
| July 2008 | $1202 | $1225 |
| August 2008 | $1206 | $1223 |
| September 2008 | $1084 | $1224 |
| October 2008 | $988 | $1212 |
| November 2008 | $958 | $1207 |
| December 2008 | $971 | $1199 |
| January 2009 | $920 | $1196 |
| February 2009 | $868 | $1204 |
| March 2009 | $903 | $1206 |
| April 2009 | $930 | $1205 |
| May 2009 | $960 | $1214 |
| June 2009 | $972 | $1218 |
| July 2009 | $992 | $1214 |
| August 2009 | $1016 | $1214 |
| September 2009 | $1040 | $1214 |
| October 2009 | $1012 | $1213 |
| November 2009 | $1030 | $1219 |
| December 2009 | $1049 | $1215 |
| January 2010 | $1023 | $1218 |
| February 2010 | $1030 | $1223 |
| March 2010 | $1053 | $1223 |
| April 2010 | $1055 | $1228 |
| May 2010 | $1012 | $1231 |
| June 2010 | $983 | $1230 |
| July 2010 | $1016 | $1236 |
| August 2010 | $1007 | $1235 |
| September 2010 | $1043 | $1237 |
| October 2010 | $1059 | $1242 |
| November 2010 | $1048 | $1243 |
| December 2010 | $1080 | $1243 |
| January 2011 | $1091 | $1247 |
| February 2011 | $1104 | $1250 |
| March 2011 | $1101 | $1263 |
| April 2011 | $1107 | $1268 |
| May 2011 | $1101 | $1276 |
| June 2011 | $1088 | $1268 |
| July 2011 | $1067 | $1270 |
| August 2011 | $1028 | $1273 |
| September 2011 | $989 | $1276 |
| October 2011 | $1029 | $1278 |
| November 2011 | $1024 | $1279 |
| December 2011 | $1026 | $1272 |
| January 2012 | $1050 | $1277 |
| February 2012 | $1070 | $1283 |
| March 2012 | $1080 | $1288 |
| April 2012 | $1070 | $1293 |
| May 2012 | $1030 | $1292 |
| June 2012 | $1051 | $1287 |
| July 2012 | $1057 | $1286 |
| August 2012 | $1063 | $1289 |
| September 2012 | $1079 | $1291 |
| October 2012 | $1079 | $1293 |
| November 2012 | $1081 | $1290 |
| December 2012 | $1098 | $1283 |
| January 2013 | $1133 | $1284 |
| February 2013 | $1154 | $1298 |
| March 2013 | $1167 | $1301 |
| April 2013 | $1180 | $1298 |
| May 2013 | $1186 | $1302 |
| June 2013 | $1166 | $1302 |
| July 2013 | $1191 | $1303 |
| August 2013 | $1181 | $1303 |
| September 2013 | $1202 | $1305 |
| October 2013 | $1241 | $1302 |
| November 2013 | $1256 | $1302 |
| December 2013 | $1271 | $1298 |
| January 2014 | $1266 | $1303 |
| February 2014 | $1294 | $1313 |
| March 2014 | $1301 | $1321 |
| April 2014 | $1311 | $1325 |
| May 2014 | $1320 | $1331 |
| June 2014 | $1331 | $1332 |
| July 2014 | $1330 | $1330 |
| August 2014 | $1351 | $1330 |
| September 2014 | $1333 | $1331 |
| October 2014 | $1341 | $1332 |
| November 2014 | $1366 | $1327 |
| December 2014 | $1365 | $1317 |
| January 2015 | $1400 | $1315 |
| February 2015 | $1433 | $1327 |
| March 2015 | $1430 | $1337 |
| April 2015 | $1415 | $1335 |
| May 2015 | $1440 | $1343 |
| June 2015 | $1414 | $1346 |
| July 2015 | $1448 | $1347 |
| August 2015 | $1409 | $1347 |
| September 2015 | $1386 | $1345 |
| October 2015 | $1414 | $1346 |
| November 2015 | $1422 | $1345 |
| December 2015 | $1425 | $1339 |
| January 2016 | $1400 | $1342 |
| February 2016 | $1380 | $1345 |
| March 2016 | $1404 | $1353 |
| April 2016 | $1399 | $1358 |
| May 2016 | $1427 | $1363 |
| June 2016 | $1427 | $1366 |
| July 2016 | $1456 | $1364 |
| August 2016 | $1463 | $1362 |
| September 2016 | $1465 | $1363 |
| October 2016 | $1459 | $1366 |
| November 2016 | $1466 | $1361 |
| December 2016 | $1481 | $1359 |
| January 2017 | $1478 | $1370 |
| February 2017 | $1504 | $1372 |
| March 2017 | $1514 | $1375 |
| April 2017 | $1527 | $1380 |
| May 2017 | $1538 | $1381 |
| June 2017 | $1514 | $1380 |
| July 2017 | $1504 | $1380 |
| August 2017 | $1511 | $1381 |
| September 2017 | $1522 | $1384 |
| October 2017 | $1547 | $1385 |
| November 2017 | $1559 | $1389 |
| December 2017 | $1560 | $1384 |
| January 2018 | $1570 | $1394 |
| February 2018 | $1551 | $1402 |
| March 2018 | $1542 | $1406 |
| April 2018 | $1547 | $1411 |
| May 2018 | $1559 | $1412 |
| June 2018 | $1565 | $1414 |
| July 2018 | $1579 | $1421 |
| August 2018 | $1586 | $1420 |
| September 2018 | $1577 | $1415 |
| October 2018 | $1524 | $1419 |
| November 2018 | $1540 | $1413 |
| December 2018 | $1495 | $1412 |
| January 2019 | $1533 | $1414 |
| February 2019 | $1556 | $1423 |
| March 2019 | $1572 | $1433 |
| April 2019 | $1587 | $1439 |
| May 2019 | $1558 | $1446 |
| June 2019 | $1581 | $1442 |
| July 2019 | $1581 | $1450 |
| August 2019 | $1575 | $1448 |
| September 2019 | $1585 | $1441 |
| October 2019 | $1588 | $1446 |
| November 2019 | $1615 | $1443 |
| December 2019 | $1622 | $1443 |
| January 2020 | $1625 | $1448 |
| February 2020 | $1569 | $1454 |
| March 2020 | $1448 | $1446 |
| April 2020 | $1536 | $1436 |
| May 2020 | $1570 | $1440 |
| June 2020 | $1575 | $1452 |
| July 2020 | $1613 | $1452 |
| August 2020 | $1646 | $1450 |
| September 2020 | $1629 | $1449 |
| October 2020 | $1598 | $1455 |
| November 2020 | $1698 | $1457 |
| December 2020 | $1732 | $1454 |
| January 2021 | $1728 | $1462 |
| February 2021 | $1756 | $1470 |
| March 2021 | $1792 | $1477 |
| April 2021 | $1817 | $1485 |
| May 2021 | $1827 | $1492 |
| June 2021 | $1865 | $1496 |
| July 2021 | $1873 | $1506 |
| August 2021 | $1894 | $1509 |
| September 2021 | $1866 | $1512 |
| October 2021 | $1900 | $1523 |
| November 2021 | $1898 | $1526 |
| December 2021 | $1940 | $1524 |
| January 2022 | $1885 | $1538 |
| February 2022 | $1860 | $1553 |
| March 2022 | $1871 | $1576 |
| April 2022 | $1788 | $1585 |
| May 2022 | $1784 | $1607 |
| June 2022 | $1702 | $1618 |
| July 2022 | $1770 | $1620 |
| August 2022 | $1743 | $1615 |
| September 2022 | $1666 | $1616 |
| October 2022 | $1716 | $1628 |
| November 2022 | $1790 | $1630 |
| December 2022 | $1735 | $1620 |
| January 2023 | $1798 | $1629 |
| February 2023 | $1780 | $1635 |
| March 2023 | $1791 | $1643 |
| April 2023 | $1801 | $1655 |
Thank you
Investment Committee Members
Chair
- T. Mattina
Vice-Chair
- S. Lawrence
Secretary
- B. O’Neill
Ex Officio
- P. Deane
- D. Janiec
- M. Sinclair
- M. Wilson-Trider
Appointed
- M. Brophy
- O. Crawford-Lem
- S. Lawrence
- C. Matthews
- T. Mattina
- D. McCann
- D. Raymond
