Salient to Investors:
The NACUBO and the Commonfund Institute said US college endowments allocated 47 percent of their investment portfolios to alternative assets in the year ended in June, versus 54 percent the prior year.
NACUBO-Commonfund said colleges earned an average endowment investment return of 11.7 percent in the year ended in June, versus 0.3 percent the year prior – domestic equities generated an average of 20.5 percent veruss 8.6 percent for alternative strategies.
In September, Yale University cut its target for private equity investments to 31 percent from 35 percent, while Harvard said it is cutting its private equity strategy as returns have trailed expectations.
Read the full article at http://www.bloomberg.com/news/2013-11-06/colleges-cut-alternative-investments-to-recoup-losses.html
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