US college endowments lose 1.9% in worst showing since 2009
Boston
US COLLEGE endowments suffered their biggest loss since the 2008-2009 financial crisis, dragged down by global stocks, hedge funds and natural resources, according to an industry survey released on Tuesday.
The 1.9 per cent average loss reported by the National Association of College and University Business Officers and money manager Commonfund in Wilton, Connecticut, for the year ended June 30, compared with a nearly 4 per cent gain, with dividends, in the S&P 500 Index. In the prior 12-month period, schools saw a 2.4 per cent return on average.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Electrolux Q1 loss nearly triples on weak demand but beats expectations
DigitalBridge-backed Vantage said to weigh Hong Kong data centres sale
Vietnam delays launch of new stock trading system
Tesla’s plan for affordable cars takes page from Detroit rivals
Meituan to debut in Riyadh as expansion beyond China quickens
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters