While endowments for the last fiscal year were able to post an 11.9% investment return, Commonfund President and CEO Verne Sedlacek said yesterday that most funds are “probably still 25% below where they were in 2007.”
At a Wednesday morning press briefing, Commonfund and National Association of College and University Business Officers officials discussed their new joint study, which recorded data from 850 U.S. colleges, universities and affiliated foundations. The 2010 NACUBO-Commonfund Study of Endowments (NCSE) survey’s positive numbers was a sigh of relief for the market, and officials, marking a recovery from 2009’s dismal -18.47% performance.
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