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发帖数: 33885 | 1 Duke University’s endowment reported an investment loss of 2.6 percent for
fiscal 2016, following a year when the school spent more than it earned in
its investments.
The fund, managed by DUMAC Inc., decreased in value in the year through June
30 to $6.8 billion, the North Carolina-based private school said Saturday
in a statement. The fund’s value declined by almost 7 percent from its
record of $7.3 billion the previous year.
Duke was among a group of schools, including Pomona College and Case Western
Reserve University, that paid out more than they earned in the year ended
June 2015. This year is proving to be worse, as some of the largest and best
-performing funds have reported losses, such as Harvard University and the
University of Pennsylvania. Duke in the statement didn’t disclose
strategies the endowment used or performance by asset class.
About 430 endowments lost 2.7 percent on average in fiscal 2016, according
to an estimate by Cambridge Associates, which manages $9.9 billion for
endowments and foundations. The Cambridge data, like the school returns, is
net of fees. |
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