Feb 23, 2022, 7:48 PM
(From Forbes) The booming stock market of late 2020 and early 2021 produced an exceptional year for college endowments of all sizes, according to a new report by TIAA and the National Association of College and University Business Officers (NACUBO). Average annual returns at 720 colleges and universities soared 30.6% in the 12 months ending June 30, up from 1.8% the prior year.
Of the key findings, researchers at NACUBO say the growing wealth gap between wealthy schools with large endowments and smaller schools is noteworthy. “There’s more wealth concentrated at the top now,” says Ken Redd, director of research and policy analysis at NACUBO. For smaller schools, finding lucrative private market opportunities isn’t just a matter of manpower; liquidity and access are also concerns when they need to be able to access their endowment funds to support their operating budgets.
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