The University of Virginia’s endowment pool experienced its smallest loss in six months during December, according to a new report from the company that handles the university’s investments.
According to the report, the endowment pool lost $30.5 million in December, bringing the total amount lost by its investments since July 1 to $1.3 billion.
What could be viewed as the upshot is that December’s loss was $250 million less than November’s, and $420 million less than October’s.
In the last six months the endowment pool’s value has dropped from $5.1 billion to $3.9 billion. That pool is broken into three categories: investments in the university’s main endowment, its affiliated organizations and the school’s operating funds. The main endowment makes up 63 percent of the pool’s value, or $2.4 billion.
The following was included in a commentary accompanying UVa’s December endowment report: “Yes, the dollar value of the pool has declined, but only when viewed over a very short period.” The commentary adds that between July 2005 and December 2008, the pool has grown from $2.6 billion to $3.9 billion.
Nationwide, college and university endowments began a drastic decline in value last summer as the economy continued its dive, with investments at universities such as Harvard and Yale having lost billions in value.
UVa was recently ranked for the fifth-consecutive year as having the 20th largest endowment nationwide. There are 77 schools around the country that were maintaining endowments in excess of $1 billion as of July 1, according to the National Association of College and University Business Officers.
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