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John D. Walda Bailey McCann, Opalesque New York:

According to data in the recently released NACUBO-Commonfund Study of Endowments, which examines data from 823 U.S. Colleges and Universities, institutions’ endowments returned an average of 19.2 percent (net of fees) for the 2011 fiscal year (July 1, 2010 – June 30, 2011). This represents an improvement over the average 11.9 percent return reported for FY2010. However, medium term returns were still below the average inflation-adjusted spending rates of educational institutions, indicating that a full recovery will be slow in coming.

The National Association of College and University Business Officers (NACUBO) and Commonfund, a US-based investment information firm partner to produce the study each year.

Study data shows that the average annual three-year return for participating institutions was 3.1%, up from the FY2010 three-year return of -4.2%. The corresponding five-year return figure was 4.7%, up from 3.0% the previous year, while the average annual return over 10 years rose to 5.6% from 3.4% a year ago.

Participants reported positive returns across all asset classes including non-campus real estate investments which were negative last year. US Equities led the pack posting a 30.1% return, nearly doubling that of the previous year. Commodities an......................

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