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Endowment Decline Continues
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Written by James Roberts   
Tuesday, 31 March 2009

On this site and in the March/April 2009 issue of the print magazine, CAM reported that Cornell's long-term investments (LTI) had declined 27 percent between June 30 and December 31, 2008. The value of those investments—which include the endowment and two smaller funds—had dropped from $6.1 billion on June 30 to $4.5 billion at the end of the calendar year.

In the prospectus for this week's sale of $305 million in tax-exempt bonds for capital projects, the University reported that the investment decline has continued:

"Since June 30, 2008, significant volatility and decline in world financial markets have impacted all major asset classes in which the LTI is invested. As of February 28, 2009, the estimated fair value of the LTI has declined by approximately 31 percent from June 30, 2008. This estimate is unaudited and does not reflect updated real estate and private equity valuations for which valuations are provided on a quarterly basis."

Last Updated ( Tuesday, 31 March 2009 )
We put the fun in dysfunctional.
Judy Calhoun Schurman '52