January 14, 2005

Academe's Endowment Returns Rose Sharply in 2004, Survey Shows

By ERIN STROUT

Educational endowments averaged 14.7 percent in returns during the 2004 fiscal year, up from the returns of 3.1 percent in 2003, according to the results of a survey released last week.

"The significantly improved returns seen this year build upon the successes of last year, which pulled educational-endowment returns back into the black after three difficult years," John S. Griswold Jr.,executive director of the Commonfund Institute, said in a written statement. The institute conducted