Money Management - 2007

Investment Advisors

College and University Endowments Realized 8.6 % Average 10-Year Return in 2007

1/24/08 - The 35th annual survey of 785 colleges and universities in the United States and Canada (largest participation ever) by the National Association of College and University Business Officers (NACUBO) in conjunction with TIAA-CREF Asset Management reported that:

1) college and university endowments realized an 8.6% average 10-year compounded rate of return in 2007 (superior to returns on the S&PP 500, Russell 3000 indices);

2) 1-year average rate of return of 17.2% for fiscal year ended 6/30/2007 (vs. 20.6% for the S&P 500 and 20.1% for the Russsell 3000;

3) $411.2 billiion in endowment assets, up $71 billion from 2006;

4) assets are primarily invested in equities, fixed income and hedge funds;

5) NACUBO estimates that the 1-year increase in endowment assets under management will generate approximately $3.25 billion in additional revenue during the current fiscal year.

Results were in line with the target needed to meet short- and long-term institutional spending goals while also ensuring the financial stability of colleges and universities.