January 23, 2004
Endowments Post First Gain in 3 Years, but Some Still Lag
Database: 717 College and University EndowmentsChart: Performance of College and University EndowmentsBy JOHN L. PULLEY
College and university endowments earned an average return of 3 percent on investments in the 2003 fiscal year. The gains, though modest, were a welcome advance into positive territory following two straight years of investment losses.
That reversal, however, did not prevent almost 300 endowments from
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