Institutional Investors

US endowment returns dip sharply in FY2012

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Preliminary data gathered from 463 US colleges and universities for the 2012 NACUBO-Commonfund Study of Endowments indicate that returns were on average -0.3% (net of fees) for the year ending June 30. 

This was a significant dip from 2011, when the average return was 19.2%.  The largest endowments, with more than $1 billion in assets, saw the best returns in the survey, an average of 1.2%. Among the institutions that have participated so far in the survey, the highest return was 15.8% and the lowest was a loss of 9.5%. 

Researchers say that perhaps the most significant trend in higher