College Endowments Earned Average of 11.1% in 1999, Down From 18% the Prior Year

College and university endowments earned an average return of 11.1 per cent in fiscal 1999, down from 18 per cent the previous year, according to preliminary results of an annual study.

The rate of return in 1999 -- the lowest in five years -- can be "attributed to a volatile stock market," offered a one-paragraph statement by the National Association of College and University Business Officers, which will release a full report in February.

Despite the