November 30, 2001

College Money Managers Shift Investments

With the economy stacked against them, college and university endowments reshuffled their portfolios in the 2001 fiscal year.

Money managers increased allocations to alternative investments, like hedge funds, while putting fewer resources into traditional assets, like stocks and bonds. The trend was most pronounced among endowments with market values of $100-million to $500-million, three-quarters of which had their portfolios rejiggered last year.

The shift in allocations is a