Phillips Exeter Academy manages an endowment fund which is based in Exeter, New Hampshire. The investments of the endowment are managed to provide for the long-term needs of the academy. The endowment is made up of funds established by alumni, parents, and friends who want to provide permanent support to the academy. The assets of the endowment fund are managed by the Investment Committee.Phillips Exeter Academy Endowment's investment portfolio is valued at $1.3 billion, with investments in private equity, real estate, hedge funds, infrastructure, real assets, natural resources, publicly-traded equities, fixed income securities, and cash. The endowment's investment portfolio return for 1 year, 5 years, 10 years, and 20 years, is 10.1%, 7.9%, 5.9%, and 8.4%, compared to CA E&F Median's (Cambridge Associates Endowment and Foundation) return of 8.1%, 7.0%, 5.5%, and 6.5% respectively.