Mon, Feb 19, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Endowments recover returns in 2013 - NACUBO-Commonfund Study of Endowments

Wednesday, January 29, 2014

Bailey McCann, Opalesque New York:

The annual NACUBO-Commonfund Study of Endowments, shows that FY2013 was a strong recovery year for endowment portfolios, coming off the -0.3% return reported for FY2012. Total returns were 11.7% net of fees - a closely watched number as endowments not only fund school budgets but also reflect the overall results of significant allocations to hedge funds and alternative investments.

This is the fifth year for the study, which acts as a league table of sorts for the nations top schools. The study represents 835 US institutional participants and total endowment market assets of $448.6bn. The average endowment of U.S. institutions was $539.8m, and the median $97.6m.

The key take away for hedge funds is that the rebound this year shows that overall, the endowment model of allocations to hedge funds still works. Report data shows that over ten years, endowments of all size categories produced much higher returns than the 60/40 S&P/Barclays Blend allocation (60% Stocks, 40% Bonds). Since 2003, report data shows that save for a few flat/down years ('08, '09, 12) the 11.7% return of this year reflects a return to more typical performance. Overall, the asset allocation (see below) mix remains mostly the same although there has been some movement away from fixed income and alternatives, which may reflect some defensive positioning as a result of the start of taper.

......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Chenavari, a $5.4bn hedge fund, told investors it thinks 'we could experience a similar pattern as the 1987 crash'[more]

    From Businessinsider.com: A $5.4 billion hedge fund told clients markets could tumble just like they did in the 1987 crash. In a February 14 letter to clients, London-based Chenavari Investment Managers warned about current market conditions. From the letter (emphasis added): "Our view is that

  2. Investing - Hedge fund Bridgewater makes $22 billion bet against European firms, Hedge funds Steadfast and Suvretta jump onto CSX in fourth quarter, Tepper's Appaloosa boosts Apple, Facebook as others bolt, Third Point buys Netflix and MGM, dumps Bank of America, Moore Capital bought Wynn Resorts, other casino stocks before Steve Wynn resigned[more]

    Hedge fund Bridgewater makes $22 billion bet against European firms From Reuters/USNews.com: Bridgewater has shown its hand in Europe with a $22 billion bet against some of the continent's biggest companies, filings reviewed by Reuters show, part of a bigger shift by the world's largest

  3. Funds Profiles - Brother-run hedge fund up 46% in 2017 says Kelly formula shows diversification is flawed, How a 6,000% profit on a single trade saved a small hedge fund from disaster[more]

    Brother-run hedge fund up 46% in 2017 says Kelly formula shows diversification is flawed From Valuewalk.com: When Jeremy and Michael Kahan consider the notion of diversification, the wince. With a return of 45.8% to end 2017, their stock-picking fund, North Peak Capital, successfully

  4. Investing - Hedge funds hook shipping stocks grappling for recovery, Small cap hedge funds offer alternative for cannabis investing, Top stock-picking hedge funds love gaming, health care and media shares, Hedge funds Steadfast and Suvretta jump onto CSX in fourth quarter[more]

    Hedge funds hook shipping stocks grappling for recovery From Hellenicshippingnews.com: Shipping stocks may still be in the doldrums in the view of many investors, but hedge funds have bet at least $675 million on signs of renewed buoyancy in the industry. Hedge funds made initial f

  5. Outlook - Eaton Vance: Retail volatility products 'the tip of the iceberg' in market turmoil, Quadratic Capital says markets to remain turbulent for some time[more]

    Eaton Vance: Retail volatility products 'the tip of the iceberg' in market turmoil From CNBC.com: While a lot of attention has been paid to retail volatility products that contributed to the recent sell-off, those securities are "just the tip of the iceberg," Eddie Perkin, chief equity i