United States public-university endowments have shown a decline in returns for the 2015 fiscal year. According to Monica Issar, head of JPMorgan Chase & Co.’s endowment and foundation group funds will have to move away from passive investment strategies because of the muted outlook for future returns. In a report put out by the Wilshire Trust Universe Comparison Service the median return for large endowments and foundations was 3.6 percent. One of the overachievers this year is UNC Management Co., which posted a 9.3 percent return for the 2015 fiscal year. The University of Texas Investment Management Co., posted only a 3.5% average return for its two investment funds.
See Bloomberg News, University Endowment Returns Fall With Equity, Bond Markets, Private Wealth, August 31, 2015.
Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.
