The following is a list of British universities ordered by their financial endowments, expressed in pounds sterling at fair value.
British charity funds are made up of restricted reserves, which can only be used for specific purposes, and unrestricted reserves, which could be used for any activity within the charity's scope. The statement of recommended practice (SORP) defines endowments as specific funds with both restrictions over the endowments' income and intention from the donors to establish such endowments. In addition, these reserves must either be held indefinitely and cannot be converted into income without permission (known as permanent endowment funds) or could be converted into income at trustees' discretion (known as expendable endowment). Updated SORP guidance published in 2007 prohibits donations with no specific purpose by the donor (unrestricted) and "with no requirement for maintenance of the original capital" from being treated as endowment. While restrictive funds are not considered endowments under the SORP's accounting guidance, institutions sometimes use the term "endowments" broadly to refer to the sum of all funds that generate income for the institution's operation and activities. Figures listed below account for funds defined by the SORP as endowment.
All sources are official audited financial statements published in the respective fiscal years. Note that changes to the Financial Reporting Standards (FRS 102) and the SORP in 2015 mean endowments as of 2016 are not directly comparable in all cases with those for previous years.
Endowments over £1 billion
| Rank | Institution | Endowment (GBP billions, End of Financial Year) | Change | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 1‑year | 5‑year | 10‑year | ||
| 1 | University of Oxford | 8.708 | 8.066 | 8.120 | 7.746 | 6.327 | 6.349 | 6.057 | 5.592 | 5.069 | NA | NA | NA | |
| —Excluding Colleges | 1.912 | 1.833 | 1.602 | 1.622 | 1.537 | 1.221 | 1.143 | 1.090 | 0.921 | 0.844 | +4.3% | +56.6% | +126.5% | |
| 2 | University of Cambridge | 7.134 | 7.802 | 6.073 | 5.044 | NA | NA | NA | ||||||
| —Excluding Colleges | 2.387 | 2.259 | 2.119 | 2.123 | 2.031 | 1.648 | 1.674 | 1.562 | 1.449 | 1.269 | +5.7% | +44.8% | +88.1% | |
Endowments from £100 million to £1 billion
| Rank | Institution | Endowment (GBP millions, End of Financial Year) | Change | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 1‑year | 5‑year | 10‑year | ||
| 3 | University of Edinburgh | 604.8 | 580.4 | 559.8 | 541.0 | 565.2 | 487.7 | 459.9 | 424.1 | 392.1 | 342.8 | +4.2% | +7.0% | +76.4% |
| 4 | King's College London | 340.8 | 324.8 | 301.0 | 291.1 | 300.6 | 252.2 | 258.1 | 233.5 | 213.5 | 194.1 | +4.9% | +35.1% | +75.6% |
| 5 | University of Glasgow | 283.1 | 262.4 | 234.3 | 225.8 | 225.2 | 177.2 | 201.9 | 200.6 | 188.4 | 170.9 | +7.9% | +25.7% | +50.3% |
| 6 | London School of Economics | 276.1 | 255.5 | 229.3 | 229.4 | 240.8 | 198.4 | 155.0 | 141.6 | 132.7 | 119.2 | +8.1% | +39.2% | +131.6% |
| 7 | Imperial College London | 272.4 | 235.2 | 220.1 | 219.6 | 202.1 | 176.0 | 178.1 | 157.1 | 141.7 | 126.2 | +15.8% | +54.8% | +115.8% |
| 8 | University of Manchester | 248.7 | 240.2 | 221.6 | 223.5 | 242.2 | 220.5 | 238.4 | 235.1 | 222.2 | 196.8 | +3.5% | +12.8% | +26.4% |
| 9 | University of Liverpool | 202.9 | 193.8 | 182.7 | 184.4 | 190.2 | 168.3 | 171.7 | 167.1 | 166.5 | 155.8 | +4.7% | +20.6% | +30.2% |
| 10 | University College London | 175.0 | 174.8 | 156.8 | 158.8 | 163.3 | 143.2 | 138.7 | 118.0 | 111.4 | 101.0 | +0.1% | +22.2% | +73.3% |
| 11 | University of Birmingham | 153.7 | 155.8 | 142.5 | 138.0 | 134.5 | 116.7 | 121.6 | 120.3 | 112.6 | 103.8 | −1.3% | +31.7% | +48.1% |
| 12 | University of Reading | 141.3 | 142.6 | 133.6 | 102.8 | 107.4 | 250.7 | 17.5 | 14.7 | 14.0 | 14.8 | −0.9% | −43.6% | +854.7% |
| 13 | University of St Andrews | 139.9 | 125.9 | 114.9 | 113.1 | 117.7 | 95.6 | 89.9 | 77.8 | 69.4 | 58.6 | +11.1% | +46.3% | +138.7% |
| 14 | Durham University | 116.3 | 106.6 | 101.7 | 99.4 | 98.2 | 86.4 | 81.9 | 74.0 | 72.0 | 67.6 | +9.1% | +34.6% | +72.0% |
Endowments from £10 million to £100 million
| Rank | Institution | Endowment (GBP millions, End of Financial Year) | Change | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 1‑year | 5‑year | 10‑year | ||
| 15 | Newcastle University | 98.3 | 94.8 | 87.1 | 87.6 | 101.8 | 87.2 | 85.1 | 80.6 | 75.2 | 63.4 | +3.7% | +12.7% | +55.0% |
| 16 | University of Leeds | 95.9 | 94.8 | 83.2 | 87.4 | 90.5 | 82.1 | 82.3 | 77.2 | 72.7 | 67.7 | +1.2% | +16.8% | +41.7% |
| 17 | University of Bristol | 94.6 | 98.7 | 86.1 | 91.6 | 91.3 | 78.7 | 77.2 | 72.2 | 70.2 | 62.6 | −4.2% | +20.2% | +51.1% |
| 18 | University of Nottingham | 82.5 | 78.1 | 72.5 | 72.2 | 72.3 | 62.3 | 63.0 | 58.5 | 55.1 | 49.9 | +5.6% | +32.4% | +65.3% |
| 19 | Queen's University Belfast | 75.0 | 70.9 | 65.6 | 69.0 | 69.7 | 63.8 | 67.1 | 67.1 | 65.4 | 56.6 | +5.8% | +17.6% | +32.5% |
| 20 | Royal Holloway, University of London | 74.8 | 75.5 | 81.6 | 86.1 | 87.7 | 78.8 | 81.2 | 80.4 | 79.6 | 75.3 | −0.9% | −5.1% | −0.7% |
| 21 | University of Aberdeen | 70.5 | 65.3 | 58.6 | 58.1 | 58.4 | 51.9 | 52.0 | 49.7 | 46.9 | 41.3 | +8.0% | +35.8% | +70.7% |
| 22 | SOAS University of London | 60.1 | 57.1 | 53.9 | 54.8 | 56.2 | 49.3 | 51.2 | 47.0 | 42.2 | 39.0 | +5.3% | +21.9% | +54.1% |
| 23 | University of Sheffield | 59.0 | 55.2 | 47.1 | 46.5 | 46.7 | 45.5 | 46.0 | 43.8 | 42.2 | 39.7 | +6.9% | +29.7% | +48.6% |
| 24 | University of Exeter | 53.8 | 51.6 | 48.6 | 48.7 | 49.5 | 41.5 | 40.7 | 38.2 | 37.2 | 32.5 | +4.3% | +29.6% | +65.5% |
| 25 | Cardiff University | 53.5 | 53.1 | 46.2 | 45.6 | 45.5 | 38.9 | 38.2 | 34.5 | 33.1 | 30.3 | +0.8% | +37.5% | +76.6% |
| 26 | University of Strathclyde | 49.9 | 46.6 | 42.2 | 41.7 | 42.1 | 36.3 | 37.8 | 35.1 | 33.1 | 30.9 | +7.1% | +18.5% | +61.5% |
| 27 | Queen Mary University of London | 49.7 | 48.0 | 43.7 | 43.4 | 41.3 | 37.3 | 33.4 | 34.1 | 34.3 | 34.7 | +3.5% | +33.2% | +43.2% |
| 28 | University of Dundee | 34.4 | 33.9 | 35.0 | 30.2 | 31.3 | 29.6 | 28.3 | 25.8 | NA | NA | NA | ||
| 29 | Aberystwyth University | 33.1 | 36.4 | 33.5 | 30.3 | 30.9 | 35.6 | 36.6 | 43.3 | 57.7 | 48.4 | −9.1% | −7.0% | −31.6% |
| 30 | University of Leicester | 24.3 | 25.9 | 23.6 | 24.3 | 24.5 | 20.0 | 21.0 | 20.6 | 17.7 | 14.0 | −6.2% | +21.5% | +73.6% |
| 31 | University of Sussex | 21.9 | 21.1 | 16.4 | 15.3 | 17.9 | 14.4 | 13.6 | 11.6 | 11.0 | 10.1 | +3.8% | +52.1% | +116.8% |
| 32 | Lancaster University | 19.5 | 18.9 | 18.4 | 15.0 | 14.8 | 14.3 | 13.9 | 6.0 | 5.9 | 5.6 | +3.2% | +36.4% | +248.2% |
| 33 | Goldsmiths, University of London | 18.2 | 15.7 | 15.0 | 15.1 | 15.3 | 14.9 | 15.0 | 3.3 | 3.3 | 3.1 | +15.9% | +22.1% | +487.1% |
| 34 | Nottingham Trent University | 17.3 | 16.8 | 15.6 | 4.7 | 4.8 | 5.0 | 5.2 | 5.6 | 6.3 | 6.9 | +3.0% | +246.0% | +150.7% |
| 35 | Ulster University | 17.2 | 16.0 | 15.0 | 15.4 | 16.1 | 13.9 | 15.1 | 14.4 | 9.0 | 7.4 | +7.5% | +23.7% | +132.4% |
| 36 | University of East Anglia | 16.2 | 15.6 | 13.7 | 13.2 | 12.9 | 10.5 | 9.0 | 8.2 | 7.7 | 7.3 | +3.8% | +54.3% | +121.9% |
| 37 | University of Hull | 15.6 | 15.8 | 14.9 | 15.2 | 15.8 | 14.6 | 15.2 | 14.6 | 14.4 | 18.8 | −1.3% | +6.8% | −17.0% |
| 38 | Birmingham City University | 14.8 | 14.2 | 12.2 | 11.9 | 11.8 | 10.2 | 8.1 | 6.6 | 6.2 | 5.7 | +4.2% | +45.1% | +159.6% |
| 39 | Heriot-Watt University | 13.2 | 13.2 | 12.2 | 12.4 | 12.0 | 10.5 | 10.5 | 9.6 | 8.9 | 8.3 | 0.0% | +25.7% | +59.0% |
| 40 | University of Southampton | 12.8 | 12.4 | 11.9 | 12.8 | 14.9 | 12.9 | 13.0 | 13.1 | 12.9 | 12.5 | +3.2% | −0.8% | +2.4% |
| 41 | City St George's, University of London | 11.4 | 7.7 | +48.1% | NA | NA | ||||||||
Specialist Higher Education Institutions
| Rank | Institution | Endowment (GBP millions, End of Financial Year) | Change | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 1‑year | 5‑year | 10‑year | ||
| 1 | London Business School | 78.5 | 69.6 | 62.4 | 60.3 | 57.9 | 59.5 | 56.5 | 53.3 | 51.9 | 47.7 | +12.8% | +31.9% | +64.6% |
| 2 | Royal Academy of Music | 64.3 | 68.5 | 58.3 | 53.0 | 48.8 | 36.4 | 38.1 | 39.5 | 36.5 | 33.8 | −6.1% | +76.6% | +90.2% |
| 4 | Royal College of Music | 52.9 | 47.9 | 44.3 | 44.6 | 49.3 | 42.4 | 45.6 | 42.8 | 37.8 | 36.5 | +10.4% | +24.8% | +44.9% |
| 4 | Courtauld Institute of Art | 47.8 | 41.7 | 38.7 | 36.0 | 35.7 | 44.4 | 44.9 | 39.7 | 37.6 | 34.4 | +14.6% | +7.7% | +39.0% |
| 5 | Liverpool School of Tropical Medicine | 47.7 | 48.3 | 25.6 | 19.1 | 27.6 | 24.9 | 17.5 | 17.0 | 16.3 | 14.9 | −1.2% | +91.6% | +220.1% |
| 6 | Royal College of Art | 39.6 | 38.5 | 34.0 | 28.5 | 26.7 | 22.3 | 21.3 | 20.3 | 20.1 | 19.5 | +2.9% | +77.6% | +103.1% |
| 7 | Royal Northern College of Music | 23.3 | 22.5 | 20.3 | 21.1 | 21.7 | 18.6 | 18.9 | 17.5 | 21.2 | 19.3 | +3.6% | +25.3% | +20.7% |
| 8 | London School of Hygiene & Tropical Medicine | 19.7 | 18.1 | 18.5 | 20.6 | 17.5 | 16.1 | 14.3 | 13.3 | 11.4 | NA | NA | NA | |
| 9 | Royal Veterinary College | 11.5 | 11.7 | 10.7 | 10.7 | 10.5 | 8.7 | 9.1 | 9.2 | 9.8 | 9.8 | −1.7% | +32.2% | +17.3% |
Endowments per student greater than £10 thousand
| Rank | Institution | Enrolment (FTE - 2023/24) | Endowment per student (2024, student population over 1000) | Change (1‑year) |
|---|---|---|---|---|
| 1 | University of Oxford | 22,150 | £393,138 | +7.1% |
| 2 | University of Cambridge | 21,140† | £337,465† | N/a |
| 3 | London Business School | 1,685 | £41,306 | +18.2% |
| 4 | London School of Economics | 12,430 | £20,555 | +12.7% |
| 5 | University of Edinburgh | 36,260 | £16,007 | +0.2% |
| 6 | Royal College of Art | 2,740 | £12,734 | +10.3% |
| 7 | University of St Andrews | 10,860 | £11,593 | +11.9% |
| 8 | Imperial College London | 21,265 | £11,060 | +10.9% |
Notes:
† Only 2022/23 figures available for Cambridge
See also
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