University Endowment Returns Fall With Equity, Bond Markets
- Biggest public colleges see investment income shy of standard
- Slump in endowments comes after year of double-digit returns
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U.S. public-university endowments, including the country’s second-wealthiest at the University of Texas, are reporting fiscal 2015 returns that fail to meet the annual industry standard.
University of Texas Investment Management Co., with $26.6 billion in endowment assets, said it had a weighted 3.5 percent average return for its two funds for the year ended June 30, Chief Executive Officer Bruce Zimmerman said in an e-mail. The Austin-based company invests funds for Texas A&M University and the University of Texas.