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Laxman Pai, Opalesque Asia: Private and community foundations' endowed funds posted double-digit returns in 2023, a dramatic turnaround from the double-digit negative returns posted the previous year, said a study.
According to a study from the Council of Foundations and Commonfund Institute, the average 2023 calendar year return on endowed funds for the 182 private foundations participating in the Study was 12.6 percent, a marked increase from the -12.0 percent return reported for 2022.
Similarly, for the 109 participating community foundations, the average 2023 return was 14.1 percent compared with -13.3 percent in 2022. Returns for both foundation segments swung more than 20 percentage points for the second year in a row (all return data reported net of fees).
The study pointed out that the rebounded 2023 returns bolstered longer-term returns, which reflect foundations' ability to finance their missions and program commitments going forward.
Ten-year average annual returns remained steady at 7.1 percent (from 7.3 percent) for private foundations and 6.2 percent for community foundations (from 6.4 percent) in 2023.
With data reported by 291 private and community foundations, representing $126.0 billion in combined assets, the CCSF is the most comprehensive annual survey of its kind.
Annualized returns for the trailing three- and five-year periods were mixed in 2023. Private foundations reported an average three-year return of 4.9 percent, down fr...................... To view our full article Click here
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