January 5, 2007

Endowments Earned 10.7 Percent in 2006

By MARTIN VAN DER WERF

The rich once again got richer faster than anyone else, but 2006 was a good year for most college and university endowments, according to preliminary data from a closely watched survey of institutions' nest eggs.

Endowments earned an average of 10.7 percent in the 2006 fiscal year, which ended on June 30 at most colleges, says the survey, from the National Association of College and University Business Officers and TIAA-CREF, an investment-management company. That is up from the

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