New Study on Endowments Large and Small

“The study was based on the IRS filings of 28,696 endowments and foundations. In addition to comparing university endowments to other non-profit funds, the authors also examined differences in performance by size and location.

Large endowments, which accounted for nearly 80 percent of the assets in the study, delivered the worst performance, although small endowments also underperformed markets overall.

The best locations, meanwhile, varied depending on the fund’s size. A small foundation delivered better returns the closer it was to a financial center like Wall Street, but the reverse was true for larger funds.”

I wouldn’t move closer to Wall Street anytime soon.

Institutional Investor article on Endowment Study

Harvard Law School Forum on Endowment Study

Working paper available on SSRN

Illustration by II

Post by Marcelino Pantoja


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