Endowments See Big Surge, Averaging a 15% Gain

College funds' performance is the best in 8 years; only 11 in survey lost money

By ERIN STROUT

The vast majority of the country's colleges got richer in 2004, ending a three-year losing streak for many of them.

Endowments earned an average return of 15.1 percent in 2004, the highest since 1998. The uptick follows investment losses in 2001 and 2002...

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