January 24, 2008
Survey: School Endowments On Right Track
By Matthew L. Brown
A survey by the National Association of College and University Business Officers has found that college and university endowments realized a significant rate of return in 2007.
Coincidentally, the College of the Holy Cross in Worcester recently released its president's report, which notes that the college's endowment grew by $116.3 million, or 21 percent, during the fiscal year.
The college's endowment finished 2007 at more than $660 million.
The association survey found the average, compounded 10-year rate of return for college and university endowments was 8.6 percent in 2007 as a result of strong overall financial performance by schools during the year. The survey reported an average one-year return rate of 17.2 percent.
The association's survey, which was conducted with TIAA-CREF Asset Management, covered $411.2 billion in endowment assets, an increase of more than $71 billion compared to the 2006 survey.
Coincidentally, the College of the Holy Cross in Worcester recently released its president's report, which notes that the college's endowment grew by $116.3 million, or 21 percent, during the fiscal year.
The college's endowment finished 2007 at more than $660 million.
The association survey found the average, compounded 10-year rate of return for college and university endowments was 8.6 percent in 2007 as a result of strong overall financial performance by schools during the year. The survey reported an average one-year return rate of 17.2 percent.
The association's survey, which was conducted with TIAA-CREF Asset Management, covered $411.2 billion in endowment assets, an increase of more than $71 billion compared to the 2006 survey.
WBJ Web Partners
Most Recent
Most Recent
0 Comments