NACUBO-TIAA: Endowments face pandemic-era muted returns

While endowment spending is on the rise, the returns at major U.S. university portfolios are down significantly from historical norms, according to the 2020 NACUBO-TIAA Study of Endowments that was released this week.

Endowments’ average one-year returns were 1.8% for the year ending June 30, 2020, compared with 5.3% for the fiscal year 2019. Both years were lower than historical target returns of 7.5%, while on an five-year annualized returns total just 5.1%.

The long-term investment experience of endowments could soon motivate at least some institutions . . .

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